Company type | Private |
---|---|
Industry | Financial services |
Founded | 1989[1] |
Founder |
|
Headquarters | Greenwich, Connecticut, U.S. |
Number of locations | 17 offices (worldwide) |
Key people |
|
Products | |
AUM | US$33 billion (2023) [2] |
Website | lcatterton.com |
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.
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. [5] Between 1992 and 2002, the company invested in well-known consumer brands including P. F. Chang's, Odwalla, and Baja Fresh. [6] [7] In 2001, the firm changed its name to Catterton Partners. [8][ needs update]
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. [9] [10] [11]
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. [8] These investments included Vroom, Sweaty Betty, Il Makiage, Sweet Leaf Tea Company and Tula. [12] [13] [14] [15] [16] In 2013, the firm launched its Latin America fund targeting investments in Latin American middle market growth companies. [17] Notable investments in the Latin America strategy include Cholula Hot Sauce and NotCo. [18] [19]
In January 2016, Catterton, LVMH, and Financière Agache (previously Groupe Arnault), the family holding company of Bernard Arnault, partnered to create L Catterton. [20] 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. [21] 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. [22]
In 2020, L Catterton raised over $5b for its ninth buyout fund and over $950m for its fourth growth fund. [23]
The firm has backed several notable investments, including Birkenstock, [24] Indian tech giant Jio Platform, Ainsworth Pet Nutrition, [25] Peloton, [26] Nature's Variety, [27] Pinarello, [28] Freetrade, [29] the Miami Design District, [30] Cover FX, [31] and Ginza Six. [32]
Company type | Private |
---|---|
Industry | Financial services |
Founded | 1989[1] |
Founder |
|
Headquarters | Greenwich, Connecticut, U.S. |
Number of locations | 17 offices (worldwide) |
Key people |
|
Products | |
AUM | US$33 billion (2023) [2] |
Website | lcatterton.com |
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.
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. [5] Between 1992 and 2002, the company invested in well-known consumer brands including P. F. Chang's, Odwalla, and Baja Fresh. [6] [7] In 2001, the firm changed its name to Catterton Partners. [8][ needs update]
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. [9] [10] [11]
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. [8] These investments included Vroom, Sweaty Betty, Il Makiage, Sweet Leaf Tea Company and Tula. [12] [13] [14] [15] [16] In 2013, the firm launched its Latin America fund targeting investments in Latin American middle market growth companies. [17] Notable investments in the Latin America strategy include Cholula Hot Sauce and NotCo. [18] [19]
In January 2016, Catterton, LVMH, and Financière Agache (previously Groupe Arnault), the family holding company of Bernard Arnault, partnered to create L Catterton. [20] 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. [21] 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. [22]
In 2020, L Catterton raised over $5b for its ninth buyout fund and over $950m for its fourth growth fund. [23]
The firm has backed several notable investments, including Birkenstock, [24] Indian tech giant Jio Platform, Ainsworth Pet Nutrition, [25] Peloton, [26] Nature's Variety, [27] Pinarello, [28] Freetrade, [29] the Miami Design District, [30] Cover FX, [31] and Ginza Six. [32]