L Catterton has partnered with former Unilever veteran Sanjiv Mehta to launch a brand new car that may put money into shopper sector firms on this planet’s fastest-growing main economic system.
Mehta will function the chief chairman of L Catterton’s India division and will probably be concerned within the agency’s numerous international funds, the U.S.-based personal fairness big mentioned in a press release on Thursday.
Mehta, a veteran within the shopper items sector, has labored at Unilever Plc. Group for nearly three many years. He led its companies in South Asia for years earlier than becoming a member of because the chief govt officer and managing director of Hindustan Unilever Ltd. in 2013.
Throughout his tenure, he oversaw a fivefold improve out there cap of HUL to Rs 6.2 lakh crore, equating to $76 billion, making it India’s fifth largest firm by market cap. Mehta give up the corporate in 2023.
The funding agency’s plan displays the boldness of traders within the nation’s beneficial financial situations and development potential. It aligns with different international corporations from Canadian pensions to sovereign wealth funds within the Center East, who’re investing billions of {dollars} within the nation.
Blackstone Inc., the world’s largest various asset supervisor, additionally expects India and Japan to be its most lively markets in Asia subsequent 12 months, based mostly on capital allocation. The New York-based firm acquired a stake in two home hospital chains final 12 months. “The economic system appears to be decoupled from what’s happening in the remainder of the world,” Joe Baratta, Blackstone’s international head of personal fairness, informed Bloomberg in an interview.
Backed by French luxurious group LVMH Moet Hennessy Louis Vuitton, L Catterton has invested about $600 million to again corporations in India, its key market in Asia, together with Japan and China, in line with the corporate. It handles $35 billion of property underneath administration globally.
“With India now having the world’s largest inhabitants and producing excessive GDP development, there has by no means been a greater time to deepen our dedication to the market,” mentioned L Catterton International’s co-CEO Michael Chu.