An In-Depth Profile of Otis Ukpai and GMI Capital Partners LLC

DeepResearch Team at Scrape the World

May 9, 2025

An In-Depth Profile of Otis Ukpai and GMI Capital Partners LLC

1. Introduction

This report provides a comprehensive analysis of Otis Ukpai, Founder and Managing Partner of GMI Capital Partners LLC, and an in-depth examination of the firm itself. The research delves into Mr. Ukpai’s professional background, entrepreneurial endeavors, and educational achievements. It further investigates GMI Capital Partners LLC’s establishment, leadership, investment strategies, fund operations, and regulatory standing.

A key aspect of this report is the careful disambiguation of GMI Capital Partners LLC and Otis Ukpai from other entities and individuals bearing similar names, ensuring clarity and accuracy. The methodology involved a thorough review of publicly available information, including professional networking profiles, company websites, regulatory filings, and media mentions, to construct a detailed and nuanced understanding of both the individual and the firm. The objective is to offer a consolidated, expert-level perspective on Otis Ukpai and his role within the private capital market through GMI Capital Partners LLC.

2. Otis Ukpai: Profile of a Founder and Managing Partner

2.1. Professional Identity and Current Role

Otis Ukpai (He/Him) is the Founder and Managing Partner of GMI Capital Partners LLC, a Houston, Texas-based financial institution operating in the private capital market.1 His LinkedIn profile indicates he holds the title of Managing Partner at GMI Capital Partners LLC since September 2021.2 He is described as a “dominant figure in the private credit industry, with a commanding focus on mid-market investments”.1 His professional self-description includes “Leader | Capital Market Expert | Wealth Builder | Entrepreneur | Impact Investor”.2

2.2. Career Trajectory and Entrepreneurial Background

Mr. Ukpai’s career demonstrates a significant entrepreneurial drive. Prior to his current focus with GMI Capital Partners LLC, he was the CEO/Managing Director of FLINTXPOSURES GROUP from November 2007 to November 2023, a tenure of 16 years and 1 month.2 Flintxposures Nigeria Limited, associated with this group, is described as a leading exhibition solutions company in Nigeria, serving sectors such as Oil & Gas, Infrastructure, and Telecommunications by providing custom stand designs and advisory services in the West African region.4 The nature of Flintxposures, focusing on exhibition solutions rather than direct financial services or investment 4, marks a distinct phase in Mr. Ukpai’s career before his current deep involvement in private capital.

Concurrently with his role at FLINTXPOSURES and before the specified start date of his Managing Partner role at GMI Capital Partners LLC, Mr. Ukpai founded GMI Group - Global Market Intelligence Group in September 2019, where he is also listed as Founder.2 This earlier “GMI Group” may represent an initial foray or foundational entity that evolved into the more specialized GMI Capital Partners LLC. The transition from leading an exhibition solutions company in Nigeria to founding and managing a private capital firm in Houston, Texas, highlights a significant career pivot towards the U.S. financial markets. This path suggests an application of entrepreneurial skills honed in one sector to the complexities of private market investments.

2.3. Educational Background

Otis Ukpai’s academic credentials include attendance at Harvard Business School.2 While his LinkedIn profile confirms his HBS affiliation, specific details such as the program, graduation year, or specializations are not provided in the available materials.2

In addition to Harvard Business School, Mr. Ukpai holds a Master of Business Administration (M.B.A.) with a specialization in business strategy from Strathmore Business School (SBS).2 He also attended Lagos Business School, Pan-Atlantic University.2 This combination of business education from institutions in Africa and the United States provides a broad and international perspective on business and finance. Such a diverse educational foundation is valuable for a career in global private capital markets, equipping an individual with varied strategic frameworks and networks.

2.4. Public Contributions and Affiliations

Otis Ukpai engages in mentorship and professional networking. He has been a volunteer Business Mentor with SCORE Mentors since February 2022, where he assists small to mid-size businesses in raising capital and positioning for growth.2 This role aligns with his professional focus on mid-market investments and his self-description as an “Impact Investor”.2 He has also been a member of The Houston Club since December 2022.2

Mr. Ukpai has contributed to public discourse on financial topics. He authored an article on Quora titled “What is the difference between wealth and asset management,” dated November 5 (year not specified but recent relative to search context), where he is identified as Founder | Managing Partner at GMI Capital Partners.5 His LinkedIn profile also lists two publications: “Why Private Credit Deserves a Premium…” (published December 11, 2024) and “Nigeria Gas Bill Controversy” (published May 25, 2017).2 These publications suggest an active engagement in thought leadership within the financial and energy sectors.

The following table summarizes key profile details for Otis Ukpai:

Table 1: Otis Ukpai - Key Profile Details

3. GMI Capital Partners LLC: Firm Overview and Operations

3.1. Firm Identity and Establishment

GMI Capital Partners LLC (CRD # 328066) is an investment adviser firm headquartered in Houston, Texas.6 The firm’s primary business address is 1330 Post Oak Blvd, Suite 1200, Houston, TX 77056.8 It also operates under the name GMI CAPITAL.7 The firm is organized as a Limited Liability Company under the laws of Delaware, a common choice for investment management firms due to Delaware’s well-established corporate law and legal flexibility.8 Otis Ukpai is a direct owner, holding more than 75% but less than 90% of the firm.8

The timeline of GMI Capital Partners’ establishment appears to be evolutionary. Pitchbook indicates the firm was founded in 2019.10 Otis Ukpai’s LinkedIn profile states his role as Managing Partner commenced in September 2021.2 Ronald L. Honka joined as Co-founder and CFO in 2024.11 The firm was approved for registration as an investment adviser in Texas effective January 16, 2025.7 This sequence—initial founding, formal leadership commencement, key executive additions, and state registration—suggests a phased development. Such a progression is not uncommon for boutique investment firms, which may begin operations or establish a brand presence before formalizing all aspects of their structure and registrations as their activities scale. The Form ADV indicates GMI Capital Partners LLC is an Exempt Reporting Adviser (ERA) with the SEC 7, a status often utilized by advisers to private funds meeting certain criteria.12

3.2. Leadership and Organizational Structure

Otis Ukpai leads GMI Capital Partners LLC as Founder and Managing Partner.1 The firm’s leadership team includes several key executives:

Ronald L. Honka, CPA, CGMA: Mr. Honka is a Co-Founder, Chief Financial Officer, and Board Member, having joined in these capacities in 2024.11 His extensive background includes roles as Audit & Assurance Partner for Alternative Investment Funds at Weaver, and positions at EisnerAmper LLP, McGladrey & Pullen, Ernst & Young, KPMG Peat Marwick, and PriceWaterhouseCoopers.11 He holds a BS in Accounting from Utica College of Syracuse University and an AAS in Accounting from Herkimer County Community College.11 The addition of a CFO with such deep experience in accounting, audit, and alternative investments signifies a bolstering of GMI’s financial controls, reporting capabilities, and overall institutional readiness. This development often coincides with periods of fund growth, new fund launches, or preparations for heightened regulatory scrutiny. Mr. Honka’s co-founder title also suggests a strategic role extending beyond purely financial oversight.
Dr. Ed Garcia, PhD: Dr. Garcia serves as Managing Director and Chief Compliance Officer.6 He received his education from Our Lady of the Lake University.14 The presence of a dedicated Chief Compliance Officer, particularly one with a doctoral degree, underscores a serious commitment to navigating the complex regulatory landscape inherent in the private funds sector.
Amy Clark, MBA: Ms. Clark is listed as Director, Trade Finance.6 It is important to note this Amy Clark is distinct from other professionals with the same name identified in broader searches, such as those associated with Tribe Impact Capital or Tradeweb Markets.15 The Amy Clark at GMI Capital Partners is specifically listed on the firm’s website and in private equity databases in connection with this firm.6
Anthony Bucek: Mr. Bucek served as an Associate from November 2023 to May 2024.13 He holds an MBA from Rice Business - Jones Graduate School of Business and had prior internship experience at Energy Transfer and leadership roles in the Rice Private Equity & Venture Capital Association.17
Ankush Bhatia: Listed as an Associate / Intern.13

There is a slight discrepancy in reported employee numbers. Pitchbook states GMI Capital Partners has 5 employees/professionals.10 However, the firm’s Form ADV filing reports 3 employees (excluding clerical staff), with 1 of these employees performing investment advisory functions.8 This difference could arise from varying definitions of “employee” (e.g., Pitchbook might include non-advisory partners or long-term consultants) or different reporting period cutoffs. The Form ADV figure, particularly the indication of a single individual performing investment advisory functions, suggests a lean core investment team, with Otis Ukpai likely serving as the primary investment decision-maker.

3.3. Investment Strategy and Market Focus

GMI Capital Partners LLC defines its mission as “Providing human and financial growth capital for small-to-mid market businesses globally with a strategic focus in North America” and its vision as “To be the leading alternative financier for small-to-mid market businesses globally”.18

The firm’s investment strategy is primarily centered on Private Credit, which constitutes 85% of its focus, complemented by smaller allocations to Private Equity (10%) and Real Assets (5%).18 This strong emphasis on private credit positions GMI Capital Partners in a significant and expanding segment of the alternative investment market. Private credit has gained traction among investors seeking yield and diversification, particularly as traditional lenders have scaled back certain lending activities. GMI’s focus within this space is on offering “sophisticated credit solutions” with a “commanding focus on mid-market investments”.1

Target sectors for the firm’s investments include financial services, energy, manufacturing, TMT (Technology, Media, and Telecommunications), and Real Assets.3 The geographical focus is described as global but with a strategic concentration in North America.18 This stated global vision currently contrasts with the firm’s Form ADV, which indicates that 0% of its clients are non-United States persons.8 This suggests that while global ambitions may be part of a longer-term strategy or relate to investment sourcing, current operations and client base are primarily domestic.

GMI Capital Partners also states that it prioritizes sustainability in its investment approach by evaluating environmental, social, and governance (ESG) factors.13 This alignment with growing investor interest in ESG could broaden the firm’s appeal to certain Limited Partners (LPs) and talent, and resonates with Otis Ukpai’s self-identification as an “Impact Investor”.2

3.4. Fund Operations and Financials

SpeakerHub mentions that GMI Capital Partners has “over $450 million in its flagship private credit fund”.3 A related SEC filing details GMI CAPITAL FUND, LP, a Delaware Limited Partnership formed in 2023, for which Otis Ukpai is listed as Manager of its General Partner.9 This entity is described as a pooled investment fund (categorized as a private equity fund type in one summary, though this likely refers to the general private fund structure given GMI’s predominant credit focus).9 The total offering amount for GMI CAPITAL FUND, LP is “indefinite,” and as of the October 2023 filing, the “first sale yet to occur.” The minimum investment accepted from any outside investor is $2.5 million.9 The formation of this fund in 2023 with a substantial minimum investment and an indefinite offering amount points to active fundraising for a new vehicle, likely corresponding to the aforementioned $450 million flagship fund.

A critical point of clarification arises from GMI Capital Partners LLC’s Form ADV, which reports $0 in regulatory assets under management (RAUM).8 This figure may seem to contradict the >$450 million fund size. However, this discrepancy is often explainable by the reporting requirements for Exempt Reporting Advisers (ERAs). ERAs, such as those advising private funds with less than $150 million in AUM in the United States or those advising only venture capital funds, are not required to fully register with the SEC and may report $0 RAUM under certain circumstances.12 The calculation of RAUM for Form ADV purposes is specific and may not include all committed capital, especially for funds where capital calls are staggered, or where deployed capital does not yet meet the SEC’s definition of a “securities portfolio” for RAUM calculation.19 Thus, the $450 million likely represents committed capital or a target fund size for GMI CAPITAL FUND, LP, rather than RAUM as defined and reported on Form ADV Part 1. The 2023 filing for GMI CAPITAL FUND, LP, indicating its first sale was yet to occur, supports the interpretation that this new fund’s capital was not yet reflected in RAUM calculations at that time.

Beyond direct fund management, GMI Capital Partners LLC also engages in financial advisory services. Pitchbook classifies the firm’s service provider type as “Financing Advisory”.10 In this capacity, GMI Capital Partners acted as a general advisor to a company named SIWADE in a deal transacted in May 2022.10 Further details about SIWADE or the specific nature of this advisory engagement are not available in the provided materials, but this activity suggests a potential for fee-generating advisory work that complements its fund management business. (It is important to note that a “GMI Group Capital Partners” based in Mauritius, which includes a company named EMS Consulting that lists SIWADE as part of its group, appears to be a separate and unrelated GMI entity 20).

The following table summarizes core details for GMI Capital Partners LLC:

Table 2: GMI Capital Partners LLC - Core Firm Details

4. Disambiguation: Navigating the “GMI” and “Ukpai” Landscape

The prevalence of the “GMI” acronym and the surname “Ukpai” necessitates careful differentiation to ensure the focus remains squarely on Otis Ukpai and GMI Capital Partners LLC. Superficial searches could easily lead to misattributions if these distinctions are not clearly made.

GMI Capital Partners LLC (gmi-co.com) vs. GMI Capital (gmi.xyz): Otis Ukpai’s firm, GMI Capital Partners LLC (CRD # 328066), operates with the website gmi-co.com and focuses on private credit, private equity, and real assets.6 This is distinct from GMI Capital, found at gmi.xyz, which is a multi-strategy crypto hedge fund with a unique focus on NFT finance, led by Christopher Scott.21 These are two separate entities with different leadership, investment strategies, and target markets.
Distinguishing from Gulf Manufacturing, LLC (GMI): Another entity using the “GMI” acronym is Gulf Manufacturing, LLC. This company specializes in the manufacturing and supply of fittings and flanges for the oil and gas industry. It was involved in a merger with Maass Global Group, facilitated by Main Street Capital Corporation, resulting in the formation of Gulf Manufacturing Holdings, LLC.22 This industrial GMI is entirely unrelated to Otis Ukpai’s investment firm.
Distinguishing from GMI Ratings (acquired by MSCI): GMI Ratings was a provider of corporate governance research and ratings. This entity was acquired by MSCI Inc. in 2014 and is now part of MSCI ESG Research.23 It is a defunct entity as a standalone brand and bears no relation to GMI Capital Partners LLC.
Contextualizing other individuals named Ukpai: Several other individuals named Ukpai appear in the public domain, unrelated to Otis Ukpai of GMI Capital Partners:
Uma Ukpai: A well-known Christian leader, international evangelist, and preacher from Nigeria, founder of Uma Ukpai Evangelistic Association.24 No connection to Otis Ukpai or his firm has been identified.
Ukpai Ukpai Iro: An individual listed in a Nigerian election candidate document.25 No discernible link to the subject of this report.
Mr. P. Ukpai: An individual mentioned in a UK employment tribunal case against the Ministry of Defence.26 This also appears unrelated.
Other individuals such as Martin Ukpai (sports context 27) and John Chukwuemeka Ukpai (university commencement program 28) are also distinct.

The existence of these various entities and individuals highlights the critical importance of precise identification in any research or due diligence process.

The following table aids in distinguishing the primary “GMI” entities discussed:

Table 3: Distinguishing Key “GMI” Entities

5. Analytical Synthesis and Concluding Remarks

Otis Ukpai’s career trajectory presents a narrative of entrepreneurial evolution, transitioning from leadership in an exhibition solutions business in Nigeria, FLINTXPOSURES GROUP 2, to establishing GMI Capital Partners LLC, a specialized private capital firm in the competitive Houston financial landscape.1 This journey, supported by an international business education that includes Harvard Business School, Strathmore Business School, and Lagos Business School 2, suggests a capacity for strategic adaptation and a drive to operate within sophisticated financial markets. His self-identification as an “Impact Investor” 2 and GMI’s stated commitment to ESG principles 13 further color his professional persona.

GMI Capital Partners LLC emerges as a boutique firm currently in a significant growth and formalization phase. Founded notionally in 2019 10, with Otis Ukpai assuming the Managing Partner role more formally in 2021 2, the firm has been methodically building its operational and strategic capabilities. The recent (2024) addition of Ronald L. Honka as Co-Founder and CFO, a professional with extensive Big Four and alternative investment fund audit experience 11, is a noteworthy development. Such a hire typically signals an intent to scale operations, enhance financial controls to institutional standards, and prepare for managing larger pools of capital or more complex fund structures. This is further complemented by the presence of a dedicated Chief Compliance Officer, Dr. Ed Garcia.6

The firm’s strategic focus is clearly articulated: mid-market investments, predominantly through private credit (85% allocation), with ancillary interests in private equity and real assets.18 The launch of GMI CAPITAL FUND, LP in 2023, with a reported flagship fund size exceeding $450 million and a $2.5 million minimum investment, indicates active capital raising efforts targeting institutional and high-net-worth investors.3 The $0 Regulatory Assets Under Management (RAUM) reported on GMI Capital Partners LLC’s Form ADV 8 should be interpreted within the context of its status as an Exempt Reporting Adviser (ERA). This figure does not necessarily reflect a lack of activity or small fund size but is rather a specific regulatory reporting outcome for certain private fund advisers.12 The committed capital of the new fund is likely the more indicative measure of its intended scale.

GMI Capital Partners LLC is positioning itself in the dynamic and competitive private credit market. Its success will likely depend on Otis Ukpai’s ability to leverage his “two decades of expertise in private capital markets” 3, his team’s execution capabilities, and their capacity to source and structure unique mid-market transactions that deliver on the promise of “sophisticated credit solutions”.3 The firm’s relatively lean core investment team, as suggested by Form ADV data 8, implies that Mr. Ukpai plays a central role in investment decisions and strategy execution.

An interesting, albeit cautiously interpreted, point is the mention on the GMI Capital Partners website (gmi-co.com, with a “May 8, 2025” article update date) of an “imminent wave-making merger”.18 Should this pertain to GMI Capital Partners LLC and materialize, it could significantly alter the firm’s trajectory, scale, and market reach. However, given the future-dated nature of the website’s content, this remains speculative based on the currently available information.

Potential areas for future observation include the successful deployment of capital from its flagship private credit fund, tangible growth in RAUM as investments are made and recognized under SEC definitions, further expansion of the professional team, and any evolution in its investment strategy or geographical footprint beyond its current North American focus. The firm’s ability to translate its strategic vision and fundraising efforts into a portfolio of performing assets will be the ultimate determinant of its long-term success in the alternative credit space.

Works cited

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