Castanea Partners, a Boston, MA-based private equity firm focused on investing in branded consumer products and services, closed its fourth fund, at $600m.
Castanea Partners Fund IV, L.P. received commitments from a group of institutional investors, including endowments, foundations, family offices, and pension funds. It seeks to make equity investments of $15m to $75m in traditional managed buyouts, sales of private companies, growth equity and acquisition capital raises, and operationally challenged companies.
Led by Robert Smith, Steve Berg and Brian Knez, the firm partners with small to mid market differentiated consumer brands. It recently invested in Aurora Brands, the owner of two iconic American luxury home and lifestyle brands, MacKenzie-Childs and Jay Strongwater; Essentia, a provider of high alkaline water; and 4moms, a company that develops and markets branded juvenile products that incorporate robotics in their designs.