Boston private equity firm Berkshire Partners LLC has committed $350 million towards future retail and consumer goods investments. The firm will co-invest in the companies with newly-formed investment firm Front Row Partners LLC.
Glen Senk, a retail and consumer executive, is CEO of Front Row. Previously, Senk was CEO of jewelry line David Yurman, and before that, CEO of Urban Outfitters (Nasdaq: URBN). Senk also held senior positions at Anthropologie, Williams-Sonoma (NYSE: WSM), Habitat and Bloomingdales.
Front Row, headquartered in New York and Boston, will invest in retail and consumer businesses.
"The consumer marketplace is rapidly evolving, with tremendous opportunities for innovative entrepreneurs with exciting new concepts and go-to-market-strategies. Our goal through this partnership is to invest in consumer and retailing businesses and help them accelerate their strategies to become industry leaders," Senk says.
Berkshire invests in private equity and marketable securities. The firm has raised about $11 billion and invested in more than 100 middle market companies. Previous consumer and retail investments include Aritzia, a women's apparel retailer, Bare Escentuals, which sells skin care products, and Carter's, which sells baby clothes.