Following

The headline here is consumer broadly continues to be challenged since the post COVID years, with MF's (as stated above) de-emphasizing their consumer strategies and MM/UMM funds that play in that space (including those that specialized or even exclusively focused on consumer) pivoting away from the sector. 

The deeper dive nuanced view is that performance (and PE interest) across each sub vertical varies substantially. Some quick hits from my perspective

• Consumer durables - bad. Would go short of calling it a "blood bath" but seeing a lot of assets that were acquired post COVID (and benefitted from a COVID "bump" with stimulus checks and everyone being home having nothing to do) go belly up or near belly up 
• Consumer non-durables / CPG - mixed bag. Challenge (from my perspective) here is with such low barriers to entry, ever changing consumer preferences, and marketing spend driving up CAC, it's tough to figure out winners and losers. Still see some major activity with recent investments in Rhone, Vuori, athletic brewing, spin drift, etc. - TBD how those go 
• Multi-site retail - largely good, with better returns (and activity) on the less discretionary / repeat purchase side of the spectrum (think low cost gyms, QSRs, etc.) than the pricier lux side of things (think vacations, high end entertainment, etc.)