Knox Lane, an investment firm focused on partnering with growth-oriented, founder-owned businesses and management teams within the consumer and services sectors, today announced the final close of its first institutional fund, KLC Fund I (“KLC I”), at $610 million, significantly above the fund’s original target of $500 million and above its hard cap. The oversubscribed fund received strong support from a diverse range of high-quality institutional investors, including pensions, insurance companies, corporate foundations, institutional family offices and fund of funds. Following the close, Knox Lane now manages approximately $1 billion in assets.
Founded by John Bailey and Shamik Patel, former partners at TPG Growth who headed the firm’s global consumer and services teams, Knox Lane is headquartered in San Francisco and brings an investor-operator mindset to partnering with businesses to help optimize operations and accelerate growth. Utilizing Knox Lane’s unique operational expertise, the fund will continue to pursue acquisitions and strategic investments in businesses that play within attractive consumer and services end-markets.
“This is an exciting milestone for our firm, and we are grateful for the incredible support of our limited partners,” said John Bailey, Managing Partner at Knox Lane. “Our investors share the strong conviction in our strategy, and today’s news is a testament to the quality of our team, many of whom have been working together for more than a decade. We look forward to bringing our curated partnership approach to more businesses, helping them accelerate growth and generate long-term value.”
To date, Knox Lane has completed three platform investments, each of which exemplifies the firm’s commitment to identifying and partnering with leading businesses in the services and consumer sectors:
- Fingerpaint, a global pharma commercialization partner;
- The Any Hour Group, the leading provider of home services in the Mountain West region; and
- Pattern, a leading partner for global ecommerce and marketplace acceleration.
In addition, Knox Lane has also completed eight strategic add-on investments, adding further capabilities, diversification and growth across these platforms.
“Our recent activity embodies our concentrated, sector-focused approach and highlights our expertise in partnering with and supporting founder- and family-owned businesses and management teams,” said Shamik Patel, Partner at Knox Lane. “We are committed to being the partner of choice for these businesses that are looking for an operationally-minded partner to help them grow and scale.”
Credit Suisse acted as placement agent to Knox Lane for the fund. Kirkland and Ellis acted as legal advisor.
About Knox Lane
Based in San Francisco, Knox Lane is a growth-oriented investment firm comprised of a team of accomplished investors and operators with a shared work history and a strong track record of partnering with leading companies to accelerate transformational growth. Knox Lane employs an investor-operator mindset and seeks to provide support across a number of business components, including human capital, brand management, end-to-end digital transformation, sourcing, supply chain and logistics, strategic acquisitions and business development. For more information, please visit www.knoxlane.com
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