LVMH-Backed Manager Launches $650M Asia Private Equity Fund

26 April, 2011

The fund, called L Capital Asia, will buy minority stakes in promising companies engaged in retail, food and beverage, and beauty and wellness.

L Capital will not deal with French parent LVMH, the world’s largest luxury goods firm, to avoid any perceptions of conflicts of interest, Asia managing partner Ravi Thakran said at a press conference in Singapore.

“We’ve defined in our constitution that we will never buy anything from LVMH nor will we sell to LVMH,” said Thakran, who is also LVMH’s group president for South and Southeast Asia and the Middle East.

“We do not want to be perceived at any point in time that we’re shifting from the left pocket to the right pocket.”

Thakran said the Asia fund has to-date invested about $90 million in three firms — Singapore luxury timepiece retailer Sincere Watch, Singapore shoe label Charles & Keith, and Hong Kong-listed Emperor Watch and Jewellery.

The fund expects to invest $200 million this year, and will announce one Chinese and one Indian fashion company investment within the next 60 days, Thakran said.

L Capital Asia is the fourth fund by L Capital, whose best-known investments include Pepe Jeans, Gant and Princess Yachts.


Leave Your Comment
LVMH Private Equity Eyes Asia Fund Of Over $1B

LVMH Private Equity Eyes Asia Fund Of Over $1B

Reuters 6 years ago
L Capital Asia, the private equity arm of the world’s biggest luxury goods group LVMH Mot Hennessy Louis Vuitton SA, could begin raising a new...
L Capital Asia raises $950M for second fund, to go slow on India deals

L Capital Asia raises $950M for second fund, to go slow on India deals

Madhav A Chanchani 4 years ago
L Capital Asia, a private equity firm backed by $37 billion global luxury conglomerate LVMH group, has raised $950 million for its second fund in...
Debut Deal: L Capital Asia Picks Up 25.5% In Genesis Luxury Fashion

Debut Deal: L Capital Asia Picks Up 25.5% In Genesis Luxury Fashion

Madhav A Chanchani 6 years ago
L Capital Asia, a private equity firm backed by $29 billion global luxury conglomerate LVMH group, has made its first India deal by picking up...
No Comments

LVMH-Backed Manager Launches $650M Asia Private Equity Fund

Powered by WordPress.com VIP