# M-One Capital

M-One Capital is an Asset Manager based in Omaha, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Omaha, United States
- **Region:** North America
- **Address:** Omaha, NE, United States
- **Founded:** 1986
- **Assets under management:** $4.0B (per the firm, 2025)
- **Website:** www.mccarthycapital.com

## Regulatory record

- **Reports private funds:** No

## About

M-One Capital, founded in 1986, is a private-investment firm focused on being a value-added partner for management teams, founders and families. The firm provides equity capital, guidance and strategic resources to the people and companies in which it invests. Formerly doing business as McCarthy Capital, the firm rebranded to M-One Capital in 2025.

## Sectors

- Enterprise Software
- Healthcare Services
- Real Estate
- Consumer
- Financial Services
- Cybersecurity
- Business Services
- Logistics & Supply Chain
- Digital Health
- Education
- Hospitality
- Staffing
- Insurance
- Asset Management

## People

- Patrick Duffy — President and Managing Partner
- Michael R. McCarthy — Founder

## Questions

### Who runs investment decisions at M-One Capital?

Patrick Duffy, President and Managing Partner, chairs the Investment and Executive Committees. He joined the firm in 2007 and oversees resource allocation, deal origination, and portfolio oversight. The committee includes partners Chase Meyer, Phil Dudley, Bob Emmert, and Matthew Breunsbach, each responsible for transaction execution and portfolio company governance.

### How is M-One Capital structured in terms of investment vehicles?

The firm runs three strategies: a flagship private equity fund (M-One Capital Fund VIII, $870 million) targeting buyouts and growth equity; an Emerging Growth practice for smaller investments; and a real estate vertical headed by Partner Lauren Pugliese. This multi-vehicle setup allows it to deploy across company stages without mandate overlap.

### Does M-One Capital take control stakes or minority positions?

The firm actively seeks minority common-equity positions alongside management teams, an unusual posture in middle-market private equity. It also executes majority recapitalizations and buyouts, but its stated preference is to leave operators with meaningful ownership and operating control.

### What is M-One Capital's relationship to McCarthy Capital?

M-One Capital is the 2025 rebrand of McCarthy Capital, founded in 1986 by Michael R. McCarthy. The strategy, leadership, and investment focus did not change with the name. The rebrand separates the institutional brand from the founder’s name as the firm matures beyond its founding generation.

### How does M-One Capital approach holding periods?

The firm explicitly prefers longer hold periods than a typical private equity fund. It cites a partnership model built on trust and alignment with management, which gives it flexibility to hold investments for a decade or more.

### Which sectors does M-One Capital avoid?

M-One Capital does not publish a negative sector list. Its portfolio reveals no exposure to energy, mining, or heavy industrial manufacturing. The firm concentrates on business services, consumer brands, healthcare services, enterprise software, and real asset platforms.

### What is the firm's posture on co-investments and consulting fees?

M-One Capital states it charges no consulting fees to its portfolio companies and relies on limited financial leverage. The firm’s investor base is not disclosed, but it welcomes co-investment alongside management and prior owners as part of its recapitalization and growth-equity deals.

## Related profiles

- [McCarthy Asset Management](https://altss.com/profile/mccarthy-asset-management)
- [McCarthy Family Foundation](https://altss.com/profile/mccarthy-family-foundation)

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Last updated: 2026-08-11T15:07:26.757Z

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