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Catterton, partners to create new consumer-focused private equity firm

BBR Staff Writer Published 06 January 2016

Private equity firm Catterton has agreed to partner with luxury goods company LVMH and Groupe Arnault to create a new global consumer-focused private equity firm.

catterton

The new entity, L Catterton, will be 60% owned by the partners of L Catterton and 40% jointly owned by LVMH and Groupe Arnault.

With plans to grow its assets under management to more than $12bn, L Catterton will combine Catterton's existing North American and Latin American private equity operations with LVMH and Groupe Arnault's private equity and real estate operations in Europe and Asia.

L Catterton, whose headquarters will be in Greenwich, Connecticut and London, will have six fund strategies focusing on consumer buyout and growth investments across North America, Europe, Asia and Latin America, in addition to prime commercial real estate globally.

It will be led by global co-CEOs J. Michael Chu and Scott A. Dahnke, currently managing partners at Catterton.

Each fund at L Catterton will continue to be managed by its own dedicated team in their respective locations across Europe, Asia and the Americas.

"The globalization of media and technology, combined with increasingly permeable geographic borders, is driving rapid consumer growth on an unprecedented global scale.

"Together, Catterton and L Capital will create a global consumer investing franchise with unmatched access to resources in the industry. We expect this combination to further our mission of investing in high growth opportunities in categories with attractive consumer economics," Dahnke added.

Subject to customary regulatory and certain investor approvals, the transaction is expected to be completed this year.


Image: Catterton, along with LVMH and Groupe Arnault, will create a new global consumer-focused private equity firm. Photo: courtesy of stockimages / FreeDigitalPhotos.net.