L Catterton, a consumer-focused private equity firm, has closed its eighth buyout fund, L Catterton Partners VIII, at USD2.75 billion, including commitments from limited partners and the general partner of L Catterton.
The oversubscribed fund received strong support from existing investors as well as select new investors around the globe.
L Catterton VIII will commit between USD60 million and USD500 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 USD14.0 billion of equity capital under management dedicated to growing middle market companies and emerging high-growth enterprises.
"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," says 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," says 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, closed in September 2013 with USD1.68 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.
