Stride Consumer Partners LLC (Stride or the Firm), a growth-equity investment firm that focuses on passion brands in consumer products and services, announced the final close of its second fund, Stride Consumer Fund II (the Fund), with US$550 million of capital commitments, bringing the Firm’s total assets under management to approximately US$1.3 billion. The Fund was oversubscribed and reached its hard cap, closing on more than 30% more capital from investors than Stride’s debut fund, which closed in 2022 with US$420 million against a US$300 million target. The Fund II raise was completed in only four months, driven largely by returning Stride limited partners who re-upped at increased commitment levels, alongside new institutional investors and founders and executives the team has partnered with previously.
Latham & Watkins LLP represented Stride in the fund formation with a team led by Investment Funds partners Andrea Schwartzman and Erin Bergey, with associate Ethan Cramer Gibbs.
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