Berkshire has partnered with retail and consumer executive Glen Senk to co-invest in innovative, high-growth retail and consumer businesses. Berkshire has initially committed $350 million to future investments alongside Mr. Senk and his newly-formed firm, Front Row Partners, where he serves as Chairman and Chief Executive Officer.
Prior to forming Front Row Partners, Mr. Senk served as Chief Executive Officer of luxury retailer David Yurman and, prior to that, as Chief Executive Officer of Urban Outfitters. He also held senior executive positions at Anthropologie, Williams-Sonoma, Habitat, and Bloomingdale’s. Mr. Senk serves on the board of directors of Melissa & Doug, and previously served on the boards of Bare Escentuals, cooking.com, David Yurman, Tory Burch, and Urban Outfitters.
“We are excited to partner with Glen, who is a world-class executive with an impressive track record of building and profitably growing innovative consumer companies across channels, including wholesale, stores, and e-commerce,” said Ross Jones, Managing Director of Berkshire Partners.
Berkshire Partners invests from $50 million to $500 million of equity capital in mid-sized companies operating in the consumer products, retail, business services, industrial manufacturing, transportation and communications sectors. The firm is currently investing from Berkshire Fund VIII, a $4.5 billion fund raised in 2011. Berkshire Partners was founded in 1986 and is based in Boston (www.berkshirepartners.com).
“Glen is a unique talent. He is creative and analytical, with an innate understanding of what motivates consumers. This skill set will be critical as we collaborate with management teams to further grow their businesses,” said Marni Payne, Senior Director at Berkshire Partners.
“I could not have found a more complementary partner than Berkshire Partners for this new venture,” said Mr. Senk. “They are an exceptional group of people with tremendous integrity and deep experience investing in the consumer space. Front Row Partners will benefit immensely from having access to the talent and resources that Berkshire can provide.”
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-7-14