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The LVMH-backed firm is pitching a buyout fund — which would fund transactions in which the firm takes a controlling stake of a business — to investors, hoping to raise $6.5 billion, the Wall Street Journal reported. The firm also hopes to raise an additional $1.25 billion, which will be dedicated to a growth-investment fund.
The news follows a dizzying year in fundraising and deal-making in the venture capital and private equity world and precedes a year in which the world’s economy is expected to expand. L Catterton, formed in 2016 when private equity firm Catterton, the Arnault family holding company Groupe Arnault and LVMH joined forces, holds a controlling stake in or ownership of brands including Etro and Birkenstock while backing DTC names such as Everlane.
Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholder’s documentation guaranteeing BoF’s complete editorial independence.
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How L Catterton Really Won Birkenstock
The story behind CEO Oliver Reichert’s manoeuvres to get the LVMH-backed private equity firm to buy the footwear maker for more than €4 billion.
