Exclusive-Louis Vuitton-backed L Catterton explores public listing -sources

Saturday, July 17, 2021
Exclusive-Louis Vuitton-backed L Catterton explores public listing -sources © Reuters. FILE PHOTO: Bernard Arnault, Chief Executive Officer of LVMH Moet Hennessy Louis Vuitton SE, attends the company's shareholders meeting in Paris, France, April 18, 2019. REUTERS/Benoit Tessier/File Photo

By Anirban Sen and David French

(Reuters) - L Catterton, the private equity firm backed by French billionaire Bernard Arnault and luxury goods empire Louis Vuitton Moet Hennessy, is exploring options to go public, according to people familiar with the matter.

L Catteron's deliberations come as the shares of publicly listed private equity firms are hovering at record highs.

Peers TPG and Bridgepoint Group are preparing for stock market debuts, while Owl Rock Capital (NYSE:ORCC) Group and Dyal Capital Partners went public in May in a three-way merger with a special purpose acquisition company (SPAC).

L Catterton has held discussions with investment banks in recent weeks to evaluate its potential options, which could include an initial public offering or a SPAC merger, the sources said.

The sources cautioned that discussions are at an early stage and no final decision has been made.

They spoke on condition of anonymity because the deliberations are confidential.

L Catterton declined to comment.

Headquartered in Greenwich, Connecticut, L Catterton manages more than $28 billion in assets. It was created in 2016 as a joint venture between consumer-focused private equity firm Catterton, Louis Vuitton owner LVMH and Groupe Arnault, Arnault's family holding.

It has been a prolific investor and acquirer of luxury consumer businesses, such as German footwear brand Birkenstock and upscale fitness brands Equinox and Peloton Interactive (NASDAQ:PTON) Inc. It has invested in more than 200 retail businesses.

Several of its portfolio companies are currently evaluating options to go public or have gone public over the past year, including Honest Co, founded by Hollywood actress Jessica Alba, and car retailer Vroom Inc.

The shares of publicly listed managers of assets such as private equity have soared in recent months, as the stock market rally boosted the value of their holdings and low interest rates allowed them to use cheap debt to juice returns on their deals.

Private equity firms Blackstone Group (NYSE:BX) Inc, KKR & Co (NYSE:KKR), Apollo Global Management (NYSE:APO) and Carlyle Group (NASDAQ:CG) have gained between 21.4% and 58% this year, outperforming the 16.1% advance by the S&P 500 index.

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28-07-2021 14:34:03 (UTC+7)

EUR/USD

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EUR/USD

1.1809

-0.0005 (-0.04%)

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GBP/USD

1.3883

+0.0009 (+0.06%)

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USD/JPY

109.88

+0.12 (+0.10%)

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AUD/USD

0.7346

-0.0014 (-0.20%)

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USD/CAD

1.2585

-0.0015 (-0.12%)

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↑ Buy

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Buy (10)

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EUR/JPY

129.75

+0.08 (+0.06%)

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↑ Buy

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EUR/CHF

1.0807

+0.0005 (+0.05%)

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Gold Futures

1,803.70

+3.90 (+0.22%)

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Silver Futures

24.812

+0.163 (+0.66%)

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Copper Futures

4.5400

-0.0198 (-0.43%)

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Sell

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Crude Oil WTI Futures

71.95

+0.30 (+0.42%)

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Brent Oil Futures

73.75

+0.23 (+0.31%)

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Natural Gas Futures

3.884

-0.034 (-0.87%)

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US Coffee C Futures

204.93

-2.87 (-1.38%)

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↑ Buy

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Buy (11)

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Euro Stoxx 50

4,074.12

+9.29 (+0.23%)

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Neutral

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S&P 500

4,401.46

-20.84 (-0.47%)

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↑ Buy

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DAX

15,527.90

+8.77 (+0.06%)

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FTSE 100

6,998.55

+2.47 (+0.04%)

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Neutral

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Hang Seng

25,362.00

+301.13 (+1.20%)

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Neutral

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Buy (9)

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US Small Cap 2000

2,189.73

-27.19 (-1.23%)

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IBEX 35

8,719.00

+19.80 (+0.23%)

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↑ Buy

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BASF SE NA O.N.

66.530

-0.530 (-0.79%)

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Bayer AG NA

50.20

-0.39 (-0.77%)

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Neutral

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Allianz SE VNA O.N.

211.10

+0.82 (+0.39%)

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↑ Buy

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Adidas AG

309.68

+0.68 (+0.22%)

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Deutsche Lufthansa AG

9.957

+0.053 (+0.54%)

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Siemens AG Class N

132.31

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Deutsche Bank AG

11.070

+0.465 (+4.38%)

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 EUR/USD1.1809↑ Sell
 GBP/USD1.3883↑ Sell
 USD/JPY109.88↑ Buy
 AUD/USD0.7346↑ Sell
 USD/CAD1.2585↑ Buy
 EUR/JPY129.75↑ Buy
 EUR/CHF1.0807↑ Sell
 Gold1,803.70↑ Sell
 Silver24.812↑ Sell
 Copper4.5400Sell
 Crude Oil WTI71.95↑ Sell
 Brent Oil73.75↑ Sell
 Natural Gas3.884↑ Sell
 US Coffee C204.93↑ Buy
 Euro Stoxx 504,074.12Neutral
 S&P 5004,401.46↑ Buy
 DAX15,527.90↑ Sell
 FTSE 1006,998.55Neutral
 Hang Seng25,362.00Neutral
 Small Cap 20002,189.73↑ Buy
 IBEX 358,719.00↑ Buy
 BASF66.530↑ Sell
 Bayer50.20Neutral
 Allianz211.10↑ Buy
 Adidas309.68↑ Buy
 Lufthansa9.957↑ Buy
 Siemens AG132.31↑ Sell
 Deutsche Bank AG11.070↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,720
(5/ 5) # 696
SJC HCM5,650/ 5,720
(-10/ -10) # 697
SJC Hanoi5,650/ 5,722
(-10/ -10) # 699
SJC Danang5,650/ 5,722
(-10/ -10) # 699
SJC Nhatrang5,650/ 5,722
(-10/ -10) # 699
SJC Cantho5,650/ 5,722
(-10/ -10) # 699
Cập nhật 28-07-2021 14:34:06
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ↀ Giá vàng thế giới
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Sản phẩmVùng 1Vùng 2
RON 95-IV2178022210
RON 95-II,III2168022110
E5 RON 92-II2049020890
DO 0.05S1637016690
DO 0,001S-V1672017050
Dầu hỏa1539015690
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WTI$71.78-0.02-0.02%
Brent$73.74+0.010.01%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.880,0023.110,00
EUR26.503,7027.882,80
GBP31.128,4532.428,70
JPY204,22214,93
KRW17,2420,98
Cập nhật lúc 14:26:40 28/07/2021
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