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Chanel heir assembles team for luxury goods-focused PE venture

1686 Partners, the private equity firm launched last year by Chanel heir David Wertheimer, has added Andreas Ernst as a partner, Jonathan Farrugia as as PE investment director, Julien Erbrech as operations manager and Jeremie Lotti as head of partnership and strategy, according to a report by Bloomberg. 

Based in Luxembourg, 1686 Partners has already raised over $110m as of December. According to its website, the newly appointed team will operate across Europe and Asia, with more information to be revealed later this year. 

Ernst joins from Skopos Impact Fund, according to her LinkedIn profile. 

1686 Partners initially invested in a European ski clothing brand, a luxury watch retailer and a company specialising in stock management and demand forecasting for brands and retailers, though Wertheimer has not disclosed the specific companies. The firm focuses on jewelry, gourmet food, ready-to-wear fashion and fragrances.   

Since 2020, Wertheimer — whose family is among the wealthiest in the luxury goods sector, according to the Bloomberg Billionaires Index — has also helped manage Mirabaud Asset Management’s Lifestyle Impact and Innovation fund, whose targets are similar to those of 1686. Mirabaud’s investments include lab-grown diamond producer Diam Concept, electric bicycle brand Mate and sneaker maker Cariuma. 

In a December statement, Wertheimer described 1686 Partners as his own franchise of the Mirabaud fund. 

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