MUMBAI: Backed by French luxury brand LVMH, global investment firm L Catterton on Thursday said that its Asia platform has formed a new India consumer-focused joint venture partnership with former Hindustan Unilever CEO Sanjiv Mehta to develop a new investment vehicle.
Mehta will serve as its executive chairman of India, effective April 4, 2024. He will also be involved with L Catterton Asia (LCA) and the firm’s other global fund platforms more broadly, where Mehta’s skills and insights can be leveraged.
The new investment vehicle may not be structured as a fund, but could be shaped as an investment platform and the strategy could be to partner with other India fund managers and invest in Indian companies, sources aware of the development said. The vehicle will scout for investments in local consumer companies, keeping in line with the broader global strategy and make investments in the range of $25-150 million, they said.
The vehicle and LCA may consider joint investments where the opportunity arises, too. “So far, L Catterton’s investments into India have been through the Asia fund. With this vehicle, they are looking at building a dedicated India-focused investment platform,” sources said. L Catterton’s funds manage $34 billion worth of assets globally and have made over 250 investments in leading consumer brands across segments.
L Catterton can tap into Mehta’s vast experience in driving consumer businesses to build its India strategy. Under his watch, HUL’s market cap increased fivefold to touch Rs 6.2 trillion – making it India’s fifth-largest public company by market cap and the country’s largest fast moving consumer goods company.
Mehta will serve as its executive chairman of India, effective April 4, 2024. He will also be involved with L Catterton Asia (LCA) and the firm’s other global fund platforms more broadly, where Mehta’s skills and insights can be leveraged.
The new investment vehicle may not be structured as a fund, but could be shaped as an investment platform and the strategy could be to partner with other India fund managers and invest in Indian companies, sources aware of the development said. The vehicle will scout for investments in local consumer companies, keeping in line with the broader global strategy and make investments in the range of $25-150 million, they said.
The vehicle and LCA may consider joint investments where the opportunity arises, too. “So far, L Catterton’s investments into India have been through the Asia fund. With this vehicle, they are looking at building a dedicated India-focused investment platform,” sources said. L Catterton’s funds manage $34 billion worth of assets globally and have made over 250 investments in leading consumer brands across segments.
L Catterton can tap into Mehta’s vast experience in driving consumer businesses to build its India strategy. Under his watch, HUL’s market cap increased fivefold to touch Rs 6.2 trillion – making it India’s fifth-largest public company by market cap and the country’s largest fast moving consumer goods company.