Global consumer-focused investment firm L Catterton has formed an India-focused joint venture partnership with former Hindustan Unilever Limited (HUL) chief Sanjiv Mehta. Mehta will be the Executive Chairman of the India venture with effect from April 4, 2024.
Mehta, who retired as chief executive officer and managing director of HUL, will also be associated with L Catterton’s Asia platform and other global fund platforms.
Mehta was associated with Unilever for 32 years. He is a non-executive independent director at Danone, Air India Limited, and Dr Reddy’s Laboratories. He is also President Commissioner of Unilever Indonesia PT and is on the South Asia advisory board of Harvard Business School.
“With India now having the world’s largest population and generating high GDP growth, there has never been a better time to deepen our commitment to the market and invest in the consumer businesses that will shape the landscape of tomorrow,” said Michael Chu, Global co-CEO of L Catterton.
The investment firm manages nearly $35 billion of equity capital across three multi-product platforms: private equity, credit, and real estate.
“This is a strategically important initiative for our Asia platform and our firm globally. Asia is expected to drive more than half of the world’s GDP growth this decade, fuelled by young, technologically enabled and highly dynamic consumers. This unique joint venture brings our firm’s global network and capabilities together with Sanjiv’s insights and experiences to create a compelling offering for investors,” said Scott Chen, Asia Managing Partner of L Catterton.