Catterton, a consumer-focused private equity firm headquartered in Greenwich, will partner with the French high-end luxury goods provider LVMH, also known as LVMH Moët Hennessy Louis Vuitton SE to create L Catterton.
The new company will be a combination of Catterton”™s North American and Latin American private equity operations with LVMH”™s European and Asian private equity and real estate operations, currently conducted under the L Capital and L Real Estate franchises.
Under the terms of this agreement, L Catterton will be 60 percent owned by the partners of L Catterton and 40 percent jointly owned by LVMH and Groupe Arnault, the family holding company of Bernard Arnault, Chairman and CEO of LVMH and Groupe Arnault.
“LÂ Catterton will provide investors with a unique value creation platform, bringing together our global network and industry expertise with Catterton”™s long-standing operational approach to building value in consumer investments,” Arnault said in a statement announcing the partnership.
According to a statement from LVMH, L Catterton will become the largest global consumer-focused investment firm with six distinct and complementary fund strategies focusing on consumer buyout and growth investments across North America, Europe, Asia and Latin America, in addition to commercial real estate globally. L Catterton expects to grow its assets under management to more than $12 billion after various successor funds are closed.
L Catterton”™s headquarters will be in Greenwich and London, with regional offices across Europe, Asia and Latin America. L Catterton will be led by Global Co-CEOs J. Michael Chu and Scott A. Dahnke, currently Managing Partners at Catterton. Each fund 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,” said Dahnke. “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.”
