Stephen Gurgovits

Stephen J. Gurgovits, Jr. is the Managing Partner and co-founder of Tecum Capital, a $500+ million Pittsburgh-based private investment firm he helped launch to manage committed pools of capital focused on mezzanine debt, subordinated notes, minority equity, and private equity, alongside a separate control-equity strategy delivered through a multi-family-office platform. In his role, he provides strategic, operational, and investment-management leadership across the funds — including planning, fundraising, growth, and execution of strategy.

Before founding Tecum, Gurgovits was President and CEO of F.N.B. Capital Corporation, LLC, the wholly-owned merchant-banking subsidiary of F.N.B. Corporation (NYSE: FNB), from its inception in 2005. The Tecum team spun out of that F.N.B. merchant-banking operation. Over his career, he has been directly involved in more than $1 billion of aggregate financial transactions, both public and private, and earlier worked as an investment and portfolio manager overseeing more than $200 million in publicly traded securities.

Gurgovits graduated with High Distinction from Pennsylvania State University with a B.S. in Accounting and earned his MBA from the Katz School of Business at the University of Pittsburgh. He holds the CFA Charter and is a licensed CPA in Pennsylvania. Under his leadership, Tecum has raised a succession of SBIC funds — Fund I (2013 vintage, ~$180M deployed across 26 companies), Fund II (2017, ~$265M across 28 companies), Fund III (2021, $305M), and Fund IV (2025, a ~$340M SBIC-licensed fund) — and since 2006 the team has collectively invested more than $1.0 billion across 100+ platform and add-on transactions.

• Invests as a lower-middle-market capital partner — mezzanine loans, subordinated notes, minority equity, and opportunistic control equity — rather than as an individual seed/angel writer
• Typical checks of ~$5–20 million into companies with EBITDA generally above $3 million (targeting ~$10–100M revenue, $3–10M+ EBITDA)
• Core sectors: business-to-business services, manufacturing, and value-added distribution, with selective activity in food & beverage and tech-enabled businesses
• Partners with "best-in-class sponsors, management teams and operators," frequently supporting buyouts, recapitalizations, growth capital, and add-on acquisitions
• Colleague David Bonvenuto describes his approach: "Steve's leadership style focuses on making a personal, positive impact on the individual — be it the co-worker, the investor, the portfolio company management team to define and deliver growth" — signaling a relationship-driven, management-partnership orientation