[Federal Register Volume 60, Number 129 (Thursday, July 6, 1995)]
[Notices]
[Page 35252]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-16494]



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SMALL BUSINESS ADMINISTRATION

[Application No. 99000165]


Sixty Wall Street SBIC Fund, L.P.; Notice of Filing of 
Application for a License To Operate as a Small Business Investment 
Company

    Notice is hereby given of the filing of an application with the 
Small Business Administration (SBA) pursuant to Section 107.102 of the 
Regulations governing small business investment companies (13 CPR 
107.102 (1993)) by Sixty Wall Street Fund, L.P. 60 Wall Street, New 
York, New York 10260 for a license to operate as a small business 
investment company (SBIC) under the Small Business Investment Act of 
1958, as amended, (15 U.S.C. et seq.), and the Rules and Regulations 
promulgated thereunder. Sixty Wall Street SBIC Fund, L.P. is a limited 
partnership formed under Delaware law. It areas of operation are 
intended to be diversified among numerous regions and industries 
throughout the United States.
    The general partner of Sixty Wall Street SBIC Corporation, a 
Delaware Corporation (the SBIC GP) which is a special purpose, wholly-
owned subsidiary of JP Morgan & Co., Incorporated (JP Morgan & Co.) The 
SBIC GP will not engage in any business other than serving as general 
partner of the applicant. The applicant will co-invest and operate side 
by side with JP Morgan Investment Corporation, an existing SBIC that is 
also wholly-owned indirectly by JP Morgan & Co., Incorporated. Both JP 
Morgan Investment Corporation and the applicant operate, and will 
operate, without SBA leverage. The following limited partner will own 
10 percent or more of the proposed SBIC:

------------------------------------------------------------------------
                                                       Percentage of    
                       Name                              ownership      
------------------------------------------------------------------------
JP Morgan Capital Corporation, 60 Wall Street,     99% (initially)      
 New York, New York 10260.                                              
------------------------------------------------------------------------

    The applicant intends that there will be ultimately no limited 
partner that will own as much as 10% of the equity interest of the 
applicant at any time other than JP Morgan Capital Corporation, which 
is the initial limited partner. Under the terms of this application, 
qualified employees of JP Morgan who have elected to participate in the 
applicant will make capital contributions at the beginning of each 
year, and accordingly, will be substituted for JP Capital Corporation 
as they themselves become limited partners of the applicant.
    The applicant will begin operations with a capitalization of $2.5 
million of cash, which is expected to increase to the $25 to $50 
million range in the next five years. The applicant intends to invest 
among numerous regions, industries and be diversified throughout the 
United States of America. There are no rigid guidelines as to the 
industries or geographical regions in which the applicant will invest 
(other than those specified by the SBIC Act), and the applicant will 
consider investment opportunities at all stages of a small business 
concern's life (including seed, start-up, development, expansion and 
later-stage). Although no particular industry or sector is excluded 
from consideration (except as required by the SBIC Act), it is 
currently anticipated that special emphasis will be given to what are 
believed to be high quality investment opportunities in leading 
technologies, health, care, and consumer and retailing sectors.
    Matters involved in SBA's consideration of the application include 
the general business reputation and character of the proposed owners 
and management, and the probability of successful operations of the new 
company under their management, including profitability and financial 
soundness in accordance with the Act and Regulations.
    Notice his hereby given that any person may, not later than 30 days 
from the date of publication of this Notice, submit written comments on 
the proposed SBIC to the Associate Administrator for Investment, Small 
Business Administration, 409 Third Street, SW., Washington, D.C. 20416.
    A copy of this Notice will be published in a newspaper of general 
circulation in New York, New York.

(Catalog of Federal Domestic Assistance Programs No. 59.011, Small 
Business Investment Companies).
    Dated: June 28, 1995.
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 95-16494 Filed 7-5-95; 8:45 am]
BILLING CODE 8025-01-M