Stride Consumer Partners closes oversubscribed Fund I above $400 million cap
Category: Transactions Year: 2022
Stride Consumer Partners LLC ("Stride" or the "Firm"), a growth-equity investment firm that focuses on passion brands in consumer products and services, announced today the final close of its inaugural fund, Stride Consumer Fund I (the "Fund"), with $420 million of capital commitments.
The Fund exceeded its $300 million target and was oversubscribed, closing above its cap with support from a diverse and global group of institutional investors. The Fund's investors also include more than a dozen founders and senior executives with whom the Stride team has partnered previously.
"We are grateful that such an exceptional and enthusiastic group of consultants, endowments, fund of funds, insurance companies, and pensions have entrusted us with their capital, and we continue to focus on building an outstanding portfolio on their behalf," said Tim Burke, Partner.
We would like to thank the entire Stride team, who together worked tirelessly to launch the Firm, complete fundraising, and commence our partnership with three exceptional brands. We would like to thank our limited partners for their confidence in and commitment to Stride. We also want to express our tremendous gratitude to our indispensable partners at Campbell Lutyens, who served as our placement agent, and Latham & Watkins, LLP, who served as our legal advisor.