Swander Pace Capital, a private equity firm specialising in investments in consumer products companies in North America and the UK, has closed SPC Partners VI at USD510 million.
The fund exceeded its initial target of USD400 million with commitments almost exclusively from existing investors.
Swander Pace’s prior fund, SPC Partners V, closed in 2013 with commitments of USD350 million.
Swander Pace will invest Fund VI using its consistent strategy developed over 20 years of consumer products investing. Fund VI will continue the firm’s focus on middle-market consumer products companies where the firm can implement its playbook of strategic and tactical growth and value-creation initiatives.
“We’d like to thank our investors for their overwhelming support that allowed us to raise this fund quickly and almost exclusively from existing investors,” says Andrew Richards, founder and managing director at Swander Pace Capital. “Their enthusiasm for our strategy and track record allowed us to exceed our target in a smooth and quick fundraising process.”
Swander Pace, led by managing directors Andrew Richards, Mark Poff, Mo Stout, Corby Reese, Rob DesMarais and Heather Smith Thorne, began fundraising in mid-April with an initial target of USD400 million. The firm exceeded that target with a first close of USD450 million in June, and final commitments in mid-August to round out the fund at USD510 million.
“I’m extremely proud of our investment team, our limited partners, and the great companies and executives we’ve been fortunate to partner with throughout the past 20 years,” adds Richards. “Their success is our success, and we are excited to continue to build on our long history of collaboration in the consumer space.”
