Swander Pace Raises $510M for Oversubscribed Sixth Fund

Sep 8 2016 | 12:04am ET

Consumer products private equity company Swander Pace Capital has raised $510 million in committed capital for its sixth fund.

The new fund, named SPC Partners VI, closed significantly above its initial target of $400 million, the company said in a statement, with commitments almost exclusively from existing investors. The firm’s most recent fund closed in 2013 with commitments of $350 million.

Fund VI will continue with Swander’s consistent strategy of focusing on middle-market consumer products companies.

“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,” said 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 began fundraising for Fund VI in mid-April. The firm exceeded that target with a first close of $450 million in June, and final commitments in mid-August to round out the fund at $510 million.

Based in San Francisco and founded in 1996, Swander Pace Capital is a specialist in middle-market consumer products companies in North America and the United Kingdom. The firm has invested in over 45 companies with aggregate revenues in excess of $3 billion, and has cumulative equity commitments of approximately $1.8 billion.

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