L Catterton

L Catterton is a private equity group investing in consumer brands across all segments of the consumer industry. The company was founded in 1989 by Michael Chu and has made more than 250 investments.

The firm invests in all major consumer segments, including food and beverage, retail and restaurants, beauty and wellness, fashion and accessories, consumer products and services, consumer health and media and marketing services, and real estate projects anchored by luxury retail.

The company has seventeen locations across five continents and more than 150 investing and operating professionals. They currently have approximately $30 billion of assets under management dedicated to growing middle-market companies and emerging high-growth enterprises.

L Catterton, formerly known as Catterton Simon Partners because of one of its founders William E. Simon, an investment banker and treasury secretary under Presidents Nixon and Ford. The company's other founders were Frank Vest and Michael Chu.

Between 1992 and 2002, the company invested in well-known companies P.F. Chang's, Odwalla, and Baja Fresh.

In 2001, the firm changed its name to Catterton Partners. Between 2002 and 2016, Catterton also invested in other well-known businesses, like Peloton, Build-A-Bear Workshop, Outback Steakhouse, and Restoration Hardware.

In 2016, Catterton partnered with LVMH's private equity arm, L Capital. The partners at L Catterton, including J. Michael Chu and Scott A. Dahnke, own 60 percent of the firm, while luxury goods maker LVMH and its owner Bernard Arnault, control the rest.

Today, L Catterton has over $20 billion in capital, which it invests in leading consumer brands like ClassPass, Honest Co., and Cholula hot sauce.

In May 2021, Private Equity International listed L Catterton as the thirty-second largest private equity firm in the world, based on capital raised over the prior five years.