L Catterton
Venture capital and private equity firm From Wikipedia, the free encyclopedia
L Catterton is an American multinational private equity firm. Founded in Greenwich, Connecticut in 1989, the fund has made over 250 investments in brands across all segments of the consumer industry.[3] The firm is led by co-CEOs J. Michael Chu and Scott Dahnke.[4] Originally Catterton Partners, the fund merged with Bernard Arnault's family office and LVMH in 2016 to create L Catterton.
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| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1989[1] |
| Founder |
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| Headquarters | Greenwich, Connecticut, U.S. |
Number of locations | 17 offices (worldwide) |
Key people |
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| Products | |
| AUM | US$33 billion (2023)[2] |
| Website | lcatterton.com |
In June 2024, L Catterton ranked 39th in Private Equity International's PEI 300 ranking among the world's largest private equity firms.[5]
History
Summarize
Perspective
Founding and early history
Catterton was founded in 1989 as Catterton-Simon Partners by Carl Frischkorn (Catterton Family), his accountant Frank Vest and J. Michael Chu, along with former U.S. Secretary of the Treasury William E. Simon.[6] Between 1992 and 2002, the company invested in well-known consumer brands including P. F. Chang's, Odwalla, and Baja Fresh.[7][8] In 2001, the firm changed its name to Catterton Partners.[9][needs update]
2002–2016
Between 2002 and 2016, Catterton completed investments in numerous consumer growth businesses including Peloton, Build-A-Bear Workshop, Ferrara Candy Company, Outback Steakhouse, Restoration Hardware, Wellness Pet Company, and Kettle Foods.[10][11][12]
In 2003, Scott Dahnke joined the firm as a co-Managing Partner.[4] In 2008, the firm launched its first growth fund targeting investments in early to late-stage growth companies.[9] These investments included Vroom, Sweaty Betty, Il Makiage, Sweet Leaf Tea Company, Tula and Pong Research.[13][14][15][16][17][18] In 2013, the firm launched its Latin America fund targeting investments in Latin American middle market growth companies.[19] Notable investments in the Latin America strategy include Cholula Hot Sauce and NotCo.[20][21]
2016–present
In January 2016, Catterton, LVMH, and Financière Agache (previously Groupe Arnault), the family holding company of Bernard Arnault, partnered to create L Catterton.[22] The partnership combined Catterton's existing North American and Latin American private equity operations with LVMH and Groupe Arnault's pre-existing European and Asian private equity and real estate operations. The merged firm is now called L Catterton and invests globally from six fund platforms: L Catterton Flagship Buyout, L Catterton North American Growth, L Catterton Latin America, L Catterton Europe, L Catterton Asia, and L Catterton Real Estate.[23] In May 2021, Private Equity International listed L Catterton as the 32nd largest private equity firm in the world based on capital raised over the prior five years.[24]
In 2020, L Catterton raised over $5 billion for its ninth buyout fund and over $950m for its fourth growth fund.[25]
In April 2024, the company bought a majority stake in the makeup retailer Kiko Milano.[26] In June 2024, it acquired Stripes, a beauty and wellness brand focused on menopause health founded by actress Naomi Watts.[27]
In January 2025, L Catterton entered into a strategic partnership with Japanese premium fishing gear maker Megabase, aiming to expand Megabase's production and distribution network to respond to rising demand in Japan and the United States.[28]
Investments
The firm has backed several notable investments, including Birkenstock,[29] Jio Platform, Ainsworth Pet Nutrition,[30] Peloton,[31] Nature's Variety,[32] Pinarello,[33] Freetrade,[34] the Miami Design District,[35] Cover FX,[36] Polène,[37] and Ginza Six.[38]
References
External links
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