Travers Smith's corporate partner and head of Paris Office William Howard has acted as UK counsel for existing client LVMH Moet Hennessy Louis Vuitton and Groupe Arnault (alongside lead counsel Chicago-based Barack Ferrazzano Kirschbaum & Nagelberg LLP), on their combination with US private equity firm Catterton Holdings L.L.C.
The transaction will create L Catterton, which will combine Catterton’s existing North American and Latin American private equity operations with LVMH and Groupe Arnault’s existing European and Asian private equity and real estate operations. L Catterton expects to grow its assets under management to more than $12bn.
L Catterton will become the largest global consumer-focused investment firm with six distinct and complementary fund strategies focusing on consumer buyout, growth investments and commercial real estate. It will be owned 60% by Catterton’s partners (including its global co-CEOs Michael Chu and Scott Dahnke) and 40% jointly by LVMH and Groupe Arnault.
The transaction is expected to close early in 2016, subject to customary regulatory and investor approvals.