L Catterton Raises Eighth Buyout Fund Above Target at $2.75 Billion
GREENWICH, Conn.— L Catterton, the largest consumer-focused private equity firm in the world, today announced that it has closed its eighth flagship buyout fund, L Catterton Partners VIII, L.P., at $2.75 billion, including commitments from Limited Partners and the General Partner of L Catterton. The substantially oversubscribed fund received strong support from existing investors as well as select new investors around the globe.
L Catterton VIII will commit between $60 million and $500 million to high-growth, middle market, consumer companies across North America and Europe. Similar to L Catterton’s previous buyout funds, the fund will target control-oriented investments in companies growing strongly in attractive consumer categories.
With the closing of L Catterton VIII in August, L Catterton has more than $14.0 billion of equity capital under management dedicated to growing middle market companies and emerging high-growth enterprises. With a 27-year history and more than 140 investment and operating professionals in 17 offices across five continents, LCatterton has the largest and most experienced team in global consumer investing.
“We are extremely pleased to have closed our largest buyout fund to date and greatly appreciate the strong support from both new and existing limited partners, which represent a diverse and global investor base,” said J. Michael Chu, Global Co-CEO of L Catterton. “We see the swift fundraise of L Catterton VIII as a clear endorsement of our strategy of partnering with leading management teams of well-positioned consumer companies to build outstanding brands around the world. We believe that our global network will help us to identify attractive investment opportunities that will continue to deliver superior returns to our investors.”
“With rapidly shifting forces impacting consumer behaviors, preferences and tastes across the globe, there has never been a more compelling and dynamic time to back attractive consumer brands,” said Scott A. Dahnke, Global Co-CEO of L Catterton. “We are thankful for the tremendous level of support from our investors and look forward to continuing to deliver on L Catterton’s strategy of identifying and investing in distinctive, high-growth consumer companies. Our proven track record and ability to generate attractive returns on our investments is a testament to the firm’s focus on building durable businesses that deliver value over the long-term.”
L Catterton’s previous buyout fund, Catterton Partners VII L.P., closed in September 2013 with $1.68 billion in commitments. L Catterton has six distinct and complementary 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.
About L Catterton
L Catterton, formed in 2016 through the partnership of Catterton, LVMH and Groupe Arnault, is the largest consumer-focused private equity firm in the world. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. L Catterton builds on this heritage with the addition of LVMH and Groupe Arnault’s existing European and Asian private equity and real estate operations. L Catterton invests in all major consumer segments, including: Food and Beverage, Retail and Restaurants, Beauty and Wellness, Fashion and Accessories, Consumer Products and Services, Consumer Health, and Media and Marketing Services, as well as real estate projects anchored by luxury retail. L Catterton’s investments include: Peloton, Restoration Hardware, CorePower Yoga, Sweaty Betty, Outback Steakhouse, Plum Organics, Chopt Creative Salad Company, Mendocino Farms, Noodles & Company, PIADA, Hopdoddy, Vroom, Snap Kitchen, Frederic Fekkai, PIRCH, Build-A-Bear Workshop, Wellness pet food, Nature’s Variety pet food, Kettle Foods, Odwalla, P.F. Chang’s, Ba&sh, Sandro and Maje, CellularLine, Vicinci / Zanotti, Cigierre,Gant, Nutrition and Sante, Pepe Jeans & Hackett, 2XU, Charles & Keith, Marubi, Bateel, Sasseur, Emperor Watch and Jewelry, Miami Design District and G6 in Ginza – Tokyo, to name a few. More information about L Catterton can be found at www.lcatterton.com.
