Founded

Sector Specialization

Assets Deployed

Private equity firm specialized in providing flexible investment solutions and concentrated attention for consumer businesses

Consumer

We invest in Consumer businesses that we believe have a “right to win.” Our investment professionals have a long history of focused consumer investing. We maintain carefully selected subsector focus and have a track record of proprietary deal sourcing.

Concentrated

We believe that concentration is a critical differentiator; a focused approach to our portfolio allows for significant time and attention dedicated to each partnership.

Active Partnership

We focus on making investments where Durational can play an active role with the company in driving long-term success. We take a hands-on approach to support management and provide valuable resources beyond just capital.

Geography

North America

Size

Investments of approximately $100 million to $400 million

Subsector Focus

  • Restaurants & Franchisors
  • Food & Beverage
  • Consumer Services
  • Sports, Live Events & Leisure
  • Consumer Technology

Flexible Solutions

  • Leveraged Buyout
  • Growth Equity
  • Structured Equity

We make concentrated investments in consumer companies with a flexible approach.

Our concentrated portfolio strategy allows the Durational team to provide significant time supporting management and providing value-add resources to drive long-term value creation. We have a specialized focus in the consumer industry and a network of experienced Operating Executives.

Our flexible transaction structures allow us to tailor the partnership to the specific needs of the business, where we can directly offer solutions to problems and provide opportunities for the company and existing shareholders.

“Bojangles has benefited significantly from Durational’s active partnership, hands-on support and shared vision. They have an unmatched understanding of our business and spend meaningful time with me and the team. I have thoroughly loved the partnership.”

– Jose Armario, CEO of Bojangles

“Durational was the ideal partner for Garage Beer. They creatively tailored a bespoke solution for us. As partners, they are actively engaged, genuinely care and consistently provide valuable resources.”

– Andy Sauer, Founder & CEO of Garage Beer

“I have known and worked with Eric and Patrick for many years. In my experience working with private equity, Durational’s deep knowledge of the consumer sector, alignment with management and time spent with the companies is very differentiated.”

– Julia Stewart, Former Chair & CEO of Dine Brands Global
Eric Sobotka
Founder & Managing Partner
Eric Sobotka
Founder & Managing Partner

Mr. Sobotka is the Managing Partner at Durational Capital Management. Prior to co-founding DCM, he was a Portfolio Manager, focusing on the consumer sector, and Investment Committee Member of Eminence Capital, a long / short equity fund. Prior to Eminence, he worked at Lehman Brothers in leveraged finance and Lazard Asset Management.

Mr. Sobotka is a former captain of the University of Pennsylvania Men’s Varsity Tennis Team and serves on the Penn Tennis Alumni Committee. He currently serves on the board of Bojangles’, Inc. and Garage Beer. and, in addition, is an active member of the board of directors of Urban Upbound, a non-profit organization dedicated to delivering sustainable prosperity to housing development communities through infrastructure building and skills development of its residents. Mr. Sobotka holds a B.A. in International Relations from the University of Pennsylvania.

Patrick Khayat
Co-Founder & Partner
Patrick Khayat
Co-Founder & Partner

Mr. Khayat is a Partner at Durational Capital Management. Prior to co-founding DCM, he was a Vice President at The Carlyle Group (Emerging Sovereign Group), a long / short equity Tiger seed hedge fund. Previous to The Carlyle Group, he was a private equity investor at Apax Partners focused on evaluating investments in the consumer sector. Prior to Apax, he worked at Miller Buckfire, where he specialized in complex restructuring transactions. He currently serves on the board of Bojangles’, Inc. and Garage Beer. Mr. Khayat graduated Magna Cum Laude from Georgetown University with a B.A. in Economics.

Jake Hall
Principal
Jake Hall
Principal

Mr. Hall is a Principal at Durational Capital Management. Prior to DCM, he was an Associate at The Carlyle Group focused on evaluating investments in the consumer, media and retail sectors. Previous to The Carlyle Group, he was an analyst in the Financial Sponsors Group at J.P. Morgan. Mr. Hall holds a B.A. in Global Affairs and Economics, with distinction, from Yale University.

Noelle Adler
Senior Associate
Noelle Adler
Senior Associate

Ms. Adler is a Senior Associate at Durational Capital Management. Previously, she was a private equity investor focusing on Consumer, Media and Retail investments at the The Carlyle Group. Prior to The Carlyle Group, she worked in Industrials investment banking coverage at Morgan Stanley. She received her M.B.A. from Harvard Business School and holds an A.B. in Statistics, with a language citation in Mandarin Chinese, from Harvard College.

Chen Zheng
VP of Finance and Operations, CCO
Chen Zheng
VP of Finance and Operations, CCO

Mr. Zheng is the Vice President of Finance and Operations at Durational Capital Management. Prior to joining DCM, he was a Senior Manager at Kohlberg Kravis Roberts & Co and a Senior Accountant at Ernst and Young LLP. Mr. Zheng graduated from Fordham University, where he received a B.S. in Accounting and is currently a Certified Public Accountant in New York State.

Transaction Type
Growth Equity
Status
Current
Company Overview
Garage Beer is an American light beer brand with its roots in the Midwest. The beer is crisp, refreshing, and 95 calories. It’s Beer Flavored Beer™, to be enjoyed anywhere you and your friends get together.
Headquarters: Columbus, OH
Investment Date: August 2025
Type: Growth Equity
Status: Current
Transaction Type
Buyout
Status
Current
Company Overview
Bojangles Inc. (“Bojangles”) is QSR chicken restaurant chain based on Southern recipes founded in 1977 in Charlotte, NC. The food is highly craveable with fresh chicken, made from scratch biscuits, unique fixin’s and breakfast served all day.
Headquarters: Charlotte, NC
Investment Date: January 2019
Type: Buyout
Status: Current
Transaction Type
Buyout
Status
Realized
Company Overview
Casper Sleep Inc. (“Casper”) is an innovative Sleep Company that has a full portfolio of obsessively engineered sleep products—including mattresses, pillows, bedding, and furniture designed in-house by the Company’s award-winning R&D team at Casper Labs. In addition to its e-commerce business, Casper owns and operates Sleep Shops across North America and its products are available at a growing list of retailers.
Headquarters: New York City, NY
Investment Date: January 2022
Type: Buyout
Status: Realized
Transaction Type
Public Investment
Status
Realized
Company Overview
Sanderson Farms (“NASDAQ: SAFM”) is an integrated poultry processing company that produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States.
Headquarters: Laurel, MS
Investment Date: Q3 2020
Type: Public Investment
Status: Realized
Transaction Type
Public Investment
Status
Realized
Company Overview
Churchill Downs (“NASDAQ: CHDN”) is a diversified consumer and leisure company that operates regional casinos, the historic Kentucky Derby and other regional racetracks and an online wagering platform.
Headquarters: Lexington, KY
Investment Date: Q2 2017
Type: Public Investment
Status: Realized