 Founded as First Union Capital Partners in 1988, the firm served as the private equity investment arm of First Union, a commercial bank based in Charlotte.The firm changed its name to Wachovia Capital Partners following the merger of First Union and Wachovia in 2001, under Managing Partners Scott Perper, currently serving as Head of Pamlico Capital, and Ted Gardner.In 2005, Frederick (Eric) W. Eubank and L. Watts Hamrick, among the original partners at conception of First Union Capital Partners, were named Managing Partners of the firm alongside Scott Perper, Chief Financial Officer Tracey M. Chaffin, and Partners