119th Street Capital
119th Street Capital is the private investment arm of First Bancshares Inc., a multi-generational Schrage family holding company, investing exclusively in privately held financial services firms through patient, flexible equity structures. The Merrillville, Indiana-based family office holds a controlling stake in Armada Analytics and a minority stake in Maridea Wealth Management.
- Company typePrivate
- Founded-
- HeadquartersMerrillville, United States
- Headcount—
- GTM typeB2B
- OfferingServices
What 119th Street Capital does
119th Street Capital is the private investment arm of First Bancshares Inc., a multi-generational, family-owned Financial Holding Company controlled by the Schrage family of Merrillville, Indiana. The firm invests exclusively in privately held financial services companies, offering flexible structures (majority or minority equity) and patient capital drawn from multi-generational family wealth rather than external limited partners. Its investment thesis targets growth-oriented financial services firms — including registered investment advisors, commercial real estate services providers, and other sector operators — where longer holding periods and sector-specific expertise can create value beyond what traditional private equity structures permit.
The firm's portfolio includes a controlling acquisition of Armada Analytics (a commercial real estate services provider specializing in the multifamily sector, acquired October 2025) and a minority stake in Maridea Wealth Management (a Brooklyn-based RIA with $1.2 billion in AUM). It has no proprietary technology platform, generates no management fees from external LPs, and sources deals through its network of financial services specialists rather than marketing-driven channels. The investment team is small (approximately 12 named professionals), supported by an Investment Committee with senior operating experience from Continental Grain, Deloitte, Bank One, and the Federal Home Loan Bank of Indianapolis. The competitive advantage rests on brand heritage tied to Centier Bank (~$9 billion in assets, 60+ branches, 1,000+ associates, founded 1895), deep sector network, and alignment of long-term family capital with portfolio company timelines.
119th Street Capital firmographics
Firmographics- Name
- 119th Street Capital
- Legal name
- 119th Street Capital
- Website
- https://119th.com
- Company type
- Private
- Operating status
- Operating
- Short description
- 119th Street Capital is the private investment arm of First Bancshares Inc., a multi-generational Schrage family holding company, investing exclusively in privately held financial services firms through patient, flexible equity structures. The Merrillville, Indiana-based family office holds a controlling stake in Armada Analytics and a minority stake in Maridea Wealth Management.
- Ownership category
- akta.pro rank
119th Street Capital industry classification
Industry- Product category
- Private Investment Services
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)
- SIC
- Investors, Nec (6799), Investment Advice (6282)
- akta.pro primary industry
- Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest) (FSAAADAH)
- akta.pro secondary industry
- Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)
Keywords
Where 119th Street Capital is headquartered
LocationHeadquarters
- HQ city
- Merrillville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
119th Street Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others, Infrastructure
Revenue model
- Investment Returns: 119th Street Capital generates returns through equity investments in financial services firms, capturing value from organic growth, acquisitions, and operational improvements across portfolio companies. Revenue is derived from capital appreciation and potential exit proceeds.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
119th Street Capital product offering
Product offeringCore offering
119th Street Capital is a private investment firm (family office) that makes equity investments exclusively in privately held financial services firms. It partners with growth-oriented owners and leaders through flexible structures including majority or minority ownership positions, providing patient multi-generational capital alongside sector expertise and a network of industry contacts. The firm supports portfolio companies across sourcing, execution, and post-close value creation, leveraging 125+ years of family financial services heritage.
Product overview
119th Street Capital is a private investment firm (the private investment arm of First Bancshares Inc.) that invests exclusively in financial services firms. The company operates as a single unified investment service offering, partnering with growth-oriented leaders through flexible investment structures (majority or minority ownership). The portfolio includes Armada Analytics, a commercial real estate services provider acquired in 2025 for strategic growth and expansion. The firm leverages specialized sector knowledge, a vast network of industry contacts, and multi-generational family capital to support partner companies.
Differentiator
Problem solved
Functional benefit
Products and services
- Financial Services Investment Partnership Equity capital partnership for privately held financial services firms, offering majority or minority ownership positions, patient multi-generational capital, and sector-specific expertise to growth-oriented owners and management teams.
- Armada Analytics Commercial real estate services provider offering various solutions for the multifamily sector, founded in 2006 and acquired by 119th Street Capital to support organic and inorganic growth while maintaining client-first service.
Companies that use 119th Street Capital
Customer profileSegments1 record
Ideal customer profiles1 record
119th Street Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
119th Street Capital partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- Nelson MullinsminorNelson Mullins provided advisory services for the Armada Analytics acquisition, supporting legal and strategic aspects of the transaction.
- Seward & Kissel LLPminorSeward & Kissel LLP provided legal advisory services for the Armada Analytics acquisition transaction.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
119th Street Capital competitors and assessment
Company assessmentDirect peers
- Stone Point Capital: One of the largest dedicated financial services-focused PE firms, investing in insurance, banking, asset/wealth management, and FS services. Closely comparable to 119th Street Capital's exclusive FS focus and middle-market thesis.
- Reverence Capital Partners: Financial services-focused PE platform making control and minority investments across asset/wealth management, insurance, capital markets, and FS tech/services. Same exclusive FS orientation and flexible majority/minority structures.
- Lightyear Capital: Private equity firm exclusively focused on financial services, investing in asset management, wealth management, insurance, and specialty finance. Comparable middle-market FS PE model.
- Lovell Minnick Partners: Buyout-focused sponsor exclusively serving the financial services industry, with a long tenure investing across RIAs, banks, insurance, and FS tech. Same sector concentration and partner-led model as 119th Street Capital.
- FJ Capital Management: Investment firm purpose-built around community/regional banks and FS services, making long-hold control and minority investments. Closest peer in terms of community-bank/Family-office DNA and patient capital orientation.
Broad incumbents
- Apax Partners: Global PE firm with a long-standing Financial & Business Services practice including FS tech, payments, and asset management. Overlaps with 119th Street Capital's FS theme but operates as a multi-sector franchise.
- Centerbridge Partners: Large diversified alternatives manager with a sizable dedicated financial services vertical. Comparable FS sector emphasis and patient hold approach but operates at broader scale across non-FS assets too.
Others
- Kroll (Restructuring/Valuation & Transaction Advisory): Financial and risk advisory firm where 119th Street Capital's VP previously worked. Adjacent enabler of FS deal flow through transaction advisory, valuation, and due-diligence services that touch similar FS-focused buyers and sellers.
- Peakstone Group: M&A and capital-raise advisor to family-owned and closely held enterprises, including in FS. Two 119th Street Capital team members previously worked at Peakstone, indicating a shared deal ecosystem around mid-market FS sellers.
Emerging players
- Patriot Financial Partners: Specialist sponsor focused on banks, insurance, and FS services companies; comparable patient-capital, community-bank-anchored thesis though at earlier scale than the largest FS PE firms.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
119th Street Capital social profiles
Digital presence119th Street Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
119th Street Capital leadership team
Management profileNumber of profiles
Profiles12 records
119th Street Capital subsidiaries and ownership
Company hierarchySubsidiaries1 record
119th Street Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
119th Street Capital M&A and investment
M&A and investmentM&A1 record
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about 119th Street Capital
What does 119th Street Capital do?
119th Street Capital is a private investment firm (family office) that makes equity investments exclusively in privately held financial services firms. It partners with growth-oriented owners and leaders through flexible structures including majority or minority ownership positions, providing patient multi-generational capital alongside sector expertise and a network of industry contacts. The firm supports portfolio companies across sourcing, execution, and post-close value creation, leveraging 125+ years of family financial services heritage.
Is 119th Street Capital a public or private company?
119th Street Capital is a private company. It is classified as family owned and is currently operating.
When was 119th Street Capital founded?
119th Street Capital was founded in -1.
Where is 119th Street Capital based?
119th Street Capital is headquartered in Merrillville, United States, in the North America region.
How does 119th Street Capital make money?
One revenue line is on record: investment Returns.
Who are 119th Street Capital's main competitors?
Direct peers on record are Stone Point Capital, Reverence Capital Partners, Lightyear Capital, Lovell Minnick Partners and FJ Capital Management. Broad incumbents are Apax Partners and Centerbridge Partners. Others are Kroll (Restructuring/Valuation & Transaction Advisory) and Peakstone Group. Patriot Financial Partners is listed as an emerging player.
Does 119th Street Capital have an API?
No public API is recorded for 119th Street Capital.
What industry is 119th Street Capital in?
119th Street Capital's product category is Private Investment Services. Its primary akta.pro industry code is FSAAADAH, Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest), with a secondary code of BPAHAOAE, Equity Capital Advisory (Private Equity Placements, Growth Capital). Its NAICS code is 523940 and its SIC code is 6799.