Alliance Consumer Growth (ACG) has closed its latest fund, Alliance Consumer Growth Fund IV LP, at its hard cap of $350 million.
Fund IV was oversubscribed and its investor group is largely comprised of returning ACG limited partners. The firm’s earlier fund, Fund III, closed in February 2016 with $210 million in capital; Fund II closed in April 2014 with $90 million of capital; and its debut fund closed in 2011 with $44 million of capital.
Fund IV will follow the same investment strategy as the firm’s earlier funds – providing $5 million to $25 million per company of growth capital to fast-growing, privately-held companies that are active in food, beverage, personal care, beauty, pet, baby, retail and restaurants. Typical investment targets will have revenues of $5 million to $50 million. ACG was founded in 2011 by Josh Goldin, Trevor Nelson and Julian Steinberg and has offices in New York and Los Angeles (www.acginvestors.com).
Since its founding, ACG has invested in several high-growth consumer and retail companies, eight of which subsequently had notable exit events. Brands that ACG has partnered with as an early-stage, minority investor include, among others, a 2013 investment in Shake Shack (IPO completed in 2015); a 2011 investment in Babyganics (sold to S.C. Johnson in 2016); a 2013 investment in KRAVE Jerky (sold to The Hershey Company in 2015); and a 2012 investment in EVOL Foods (acquired by Boulder Brands in 2013).
Kramer Levin Naftalis & Frankel (www.kramerlevin.com) provided legal services.
ACG did not use a placement agent for this fundraise.
© 2018 Private Equity Professional | July 19, 2018