About This Fund
Encore Consumer Capital Fund III is the third flagship buyout fund managed by Encore Consumer Capital, a private equity firm specialising in lower middle market consumer brands in the United States. The fund reached a first and final close in July 2015 at $260 million, meeting its hard cap after a rapid two-month fundraise. The close significantly exceeded the fund's target size of $225 million, reflecting strong re-commitment rates from existing limited partners and new institutional investors who recognised the firm's track record in consumer-focused investing.
Encore Consumer Capital targets established consumer brands with annual revenues between $10 million and $150 million, operating in the underserved lower middle market of the US consumer sector. The firm focuses on consumer staples including food and beverage, personal care, household products, and specialty consumer goods. Encore applies deep operational expertise in marketing, brand building, retail channel development, and supply chain optimisation to accelerate revenue and EBITDA growth in portfolio companies. Fund III's strategy continued Encore's established playbook of acquiring majority control stakes in founder-led or family-owned businesses and applying institutional resources to accelerate their development.
By the time Fund III closed, Encore had raised approximately $640 million in prior committed capital across its predecessor funds, building a track record across more than 38 consumer investments. Fund III was reported as the firm's highest-returning fund, with returns strong enough to generate exceptional LP re-commitment rates for subsequent vehicles: Fund IV closed at $258 million in February 2024 and Fund V closed at $350 million in less than five months of fundraising. Encore Consumer Capital is based in San Francisco, California and invests exclusively in North American consumer businesses.