Swander Pace Capital has closed its sixth fund, SPC Partners VI LP. The firm says the fund has received commitments mostly from existing investors.

SPC Partners will continue to execute Swander Pace’s strategy of focusing on the middle-market consumer sector. The fund is valued at $510 million. Swander Pace closed its fifth fund in 2013 at $350 million.

The fundraising comes on the heels of Swander Pace selling probiotics maker Renew Life Holdings Corp. to the Clorox Co. (NYSE: CLX). Earlier in 2016, the firm bought vitamin retailer Swanson Health Products and in 2015, Swander Pace exited meat distributor Applegate Farms to Hormel Foods (NYSE: HRL).

Swander Pace has invested in more than 45 companies since it was founded in 1996. The firm usually pursues companies that have up to $400 million in revenue. Swander Pace has offices in San Francisco, New Jersey and Ontario. It is led by managing directors Andrew Richards, Mark Poff, Mo Stout, Corby Reese, Rob DesMarais and Heather Smith Thorne.

Swander Pace joins a list of several PE firms that have closed new funds lately. For example, CenterOak Partners LLC closed its first fund; North Castle Partners has closed its sixth private equity fund; and OpenGate Capital raised its initial institutional fund. Kirkland & Ellis LLP represented Swander Pace.

Financial services industry