Sturbridge Capital was founded in 2011 by Salam Chaudhary with a major investment commitment from Chris Hornung.
Hornung is the founder and former longtime chief executive officer of Pacific Cycle, a company which he grew to become North America’s leading supplier of bicycles and related products under the brand names of Schwinn, GT, Mongoose, Pacific, InSTEP, Pacific Outdoors, Roadmaster and Dyno.
Chaudhary and Hornung worked in close partnership when, as an investment professional at Wind Point Partners, Chaudhary spearheaded an investment and recapitalization of Pacific Cycle. During the six-year partnership, Pacific completed multiple significant acquisitions, including the Schwinn, Mongoose and GT brands, more than quadrupling revenue and producing an investment return of over 14x for Wind Point Partners.
Today, Chaudhary and Hornung have parlayed their partnership experience into a secondary private equity venture, positioning Sturbridge Capital as the ideal buyer for fund-of-fund and tail-end private equity assets. The compelling opportunity and return profile of the niche secondary strategy has led Sturbridge to raise additional capital from other investors. In total, the firm has completed more than $100 million of transactions in the secondary private equity market.