Personal fairness agency L Catterton has appointed Vikram Kumaraswamy—a seasoned Unilever government—as accomplice and co-head of its India enterprise. He’ll lead alongside Anjana Sasidharan and India government chairman Sanjiv Mehta because the agency doubles down on one in every of Asia’s fastest-growing client markets, in line with a press launch by the corporate.
The agency is backed by LVMH Moët Hennessy Louis Vuitton, the world’s largest luxurious group and residential to manufacturers like Louis Vuitton, Sephora, and Dom Pérignon.
In Could, L Catterton launched a $600 million fund solely for India—the primary such country-specific fund in its international portfolio. The fund has backing from Worldwide Finance Company (IFC), which dedicated $30 million and should co-invest an extra $30 million.
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This fund follows the formation of a three way partnership in March 2024 between L Catterton and Sanjiv Mehta, former CEO of Hindustan Unilever (HUL). Collectively, the three way partnership will contribute 5% of the overall fund dimension, with the funding cut up between Mehta and the agency.
The fund will goal 7–9 mid-market offers throughout client classes reminiscent of meals and beverage, healthcare-led providers, eating places, and branded retail. Deal sizes will vary between $25 million and $150 million.
Kumaraswamy brings practically three many years of worldwide expertise at Unilever, together with as international head of company improvement and treasury. He led $15 billion in investments, M&A, and divestitures throughout areas. His transfer indicators a pivot from company technique to personal fairness as he returns to India after international stints in London, Singapore, and Indonesia.
With Mehta and Sasidharan, he’s anticipated to assist L Catterton deepen its foothold in a market the place the following era of client giants continues to be being constructed.
India’s consumption story
India’s non-public consumption has practically doubled during the last decade—from $1 trillion in 2013 to $2.1 trillion in 2024, in line with Deloitte India and the Retailers Affiliation of India.
With a 7.2% compound annual development charge (CAGR), the nation is projected to develop into the world’s third-largest client market by 2026, buoyed by rising incomes and concrete demand.