Hunter Point Capital reported it made a minority investment in L Catterton, the consumer-focused private equity firm with investments in the active lifestyle space, including 2XU, Birkenstock, Kodiak, Pinarello, Seafolly, Taxa Outdoors, and West Marine.
The funding is intended to help L Catterton accelerate growing the business focusing on its new fund platforms. In addition, Bennett Goodman, HPC’s co-founder and executive chairman, will work as a strategic credit advisor to L Catterton.
One of the largest investors focused exclusively on the consumer sector globally, L Catterton created three new fund platforms in 2023—Private Credit, Impact and RMB—to leverage consumer insights and increase the strength of its global platform.
HPC said it would support L Catterton’s latiest initiatives by helping the company develop its fund platforms, focusing on the credit business. The L Catterton partnership will reinvest HPC’s capital into the company’s funds, furthering its commitment to supporting all fund platforms.
“For over three decades, we have remained true to our mission of partnering with leading management teams to build outstanding consumer brands around the world,” said Scott Dahnke, global co-CEO of L Catterton. “In pursuit of this quest, we seek to leverage our distinctive strengths as a consumer investor, deliver our high-standard of risk-adjusted returns, and, most importantly, strengthen the platform in a way that ‘raises all boats’. We are confident that our partnership with HPC will support these efforts and will help us to continue to create value for our portfolio companies and limited partners alike.”
Michael Chu, global co-CEO of L Catterton, added, “Through this partnership with Avi, Bennett and the HPC team, we are accelerating our newly launched Private Credit platform, building on our reputation as the partner of choice for consumer businesses around the world. With his deep expertise in private credit markets, we’re delighted to have the support of Bennett as Strategic Credit Advisor as we position the Private Credit platform for growth and continued success.”
Avi Kalichstein, co-founder and CEO of HPC, said, “We have long admired Scott, Michael and L Catterton for delivering significant value to limited partners and portfolio companies over the course of more than three decades. L Catterton is in a league of its own and represents precisely the kind of world-class firm for which our strategic capital is intended. We look forward to adding value through HPC’s suite of business-building services as L Catterton continues to expand its proven franchise across new products.”
There will be no change in governance, investment process or day-to-day management of L Catterton. LVMH’s and Financière Agache’s collective minority stake in L Catterton remains unchanged.
