Stride Consumer Partners LLC (“Stride Consumer”) is a Delaware limited liability
company and a registered investment adviser that began operations in June 2020. Stride Consumer,
and its affiliated investment advisers, provide investment advisory services to private investment
funds.
Stride Consumer provides investment advisory services to Stride Consumer Fund I, L.P.,
a Delaware limited partnership, and Stride Consumer Fund I Coinvest, L.P., a Delaware limited
partnership (collectively, and together with any separate investment vehicles formed from time to
time, “Fund I”, and together with any future private investment fund or co-investment vehicle to
which Stride Consumer or its affiliates provide investment advisory services, the “Funds” and
each, a “Fund”). Stride Consumer also provides, and may in the future provide, investment
advisory services to certain friends and family vehicles that invest alongside the Funds. The
general partner of Fund I is Stride Consumer Fund I GP, L.P., a Delaware limited partnership (the
“General Partner” and together with Stride Consumer and their affiliated entities, “Stride”). The
General Partner and Stride Consumer are affiliates. The General Partner is registered under the
Advisers Act pursuant to Stride Consumer’s registration in accordance with SEC guidance. This
Brochure also describes the business practices of the General Partner, which operates as a single
advisory business together with Stride Consumer.
Fund I invests in equity or other securities (including debt securities) and seeks to provide
equity-like returns in lower-middle market portfolio companies in targeted consumer sectors.
Stride’s investment advisory services to its Funds consist of identifying and evaluating investment
opportunities, negotiating, managing, financing and monitoring investments and achieving
dispositions for such investments. Stride is principally owned by Steven Berg. Stride’s day-to-day
investment management activities are undertaken by Steven Berg, Tim Burke and Juan Marcos
Hill (collectively, the “Principals”).
Stride’s investment advisory services to the Funds are tailored in accordance with each
Fund’s investment strategy as set forth in the applicable private placement memorandum (or other
applicable disclosure documents), partnership agreement (or similar governing document) and/or
investment management agreement (each a “Governing Document”, and collectively, the
“Governing Documents”). Stride’s advisory services are further described below under Item 8
“Methods
of Analysis, Investment Strategies and Risk of Loss.” Currently, Stride only advises the
Funds. In the future, Stride could determine to advise separately managed accounts or single
investor vehicles.
Stride investors participate in the overall investment program for the applicable Fund, but
are permitted to be excused or excluded from a particular investment due to legal, regulatory or
other applicable constraints. Additionally, from time to time, Stride has provided and may in the
future provide (or agree to provide) certain investors or other persons the opportunity to participate
in co-invest vehicles (each a “Co-Invest Fund”) that will invest at substantially the same time and
on substantially the same terms as a Fund in certain investments.
The Funds or the General Partner have entered and may in the future enter into side letters
or other written agreements with certain investors that have the effect of establishing rights or
provisions under, or altering or supplementing, the terms of the Fund’s partnership agreement or
an investor’s subscription agreement with respect to such investor. Such provisions have included
and could include, without limitation, rights with respect to fees, expenses, priority on co-
investment opportunities, distributions, excuse or exclusion from investments, transfers of
interests in the Fund, tax and other reporting, notice requirements, and other representations,
warranties or diligence confirmations. For the most part, any rights established, or any terms
altered or supplemented will govern only the investment of the specific investor and not the terms
of a Fund as whole. Certain such additional rights but not all rights, terms or conditions could be
elected by certain sizeable investors with “most favored nations” rights pursuant to a Fund’s
limited partnership agreement. Stride generally will not be required to notify all other limited
partners of any such side letters or of any of the rights or terms or provisions thereof.
The information provided herein about the investment advisory services provided by
Stride is qualified in its entirety by reference to the Funds’ Governing Documents, including
offering materials and limited partnership and subscription agreements.
As of December 31, 2023, Stride Consumer managed approximately $535,339,663 in client
assets on a discretionary basis. As of December 31, 2023, Stride Consumer did not manage any
assets on a non-discretionary basis.