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NewRoad Capital Partners LLC of Rogers announced it had raised $176 million for its NewRoad Fund III LP.
The investment group focuses on the supply chain and logistics sector and the retail and consumer packaged goods sector. The fund has already invested in four companies and NewRoad now has $375 million in managed investments.
“We are extremely proud to have the support of an incredible group of investors,” said Managing Partner Clete Brewer. “We are thrilled to be able to continue to build off the success we have had to date in the Fund. As we execute against our strategy in the current market, we are excited by the opportunities we see to add value for portfolio companies and LPs alike.”
NewRoad was founded in 2013 by Brewer, Jeremy Wilson and Doug Degn. Brewer is the former CEO of Staffmark Inc. and president of Sports Clips, Wilson was the COO of Rockfish and Degn is a former Walmart Inc. executive.