About This Fund
Hildred Perennial Partners I, L.P. is a multi-asset continuation fund launched by New York-based healthcare private equity firm Hildred Capital, reaching a final close with capital commitments in excess of $750 million in March 2024. The fund was established to acquire controlling positions in two healthcare consumer product companies — Hyland's Naturals and Crown Laboratories — previously held within Hildred Capital's first and second flagship funds.
The continuation fund structure provided Hildred's existing limited partners with three distinct optionality paths: rolling all interests into the new vehicle, selling all interests, or partially rolling and selling. The transaction was led by Lexington Partners, one of the world's largest managers of secondary private equity and co-investment funds, alongside a broad group of institutional investors both new and returning to the Hildred platform. The vehicle carries a mandate to deploy substantial unfunded capital for organic growth initiatives and strategic acquisitions alongside its two anchor portfolio companies.
Hildred Perennial Partners I was significantly oversubscribed, reflecting strong institutional confidence in Hildred's operational capabilities in the consumer healthcare segment. The continuation fund structure allowed Hildred's co-founders to roll over 100% of their economic interests, signaling alignment with incoming investors. The fund focuses on Hyland's Naturals, a leading homeopathic and natural remedy product company, and Crown Laboratories, a dermatology consumer product business — both representing established market positions in healthcare consumer goods.