Banks, Financial

Banking app targets millennials who want help budgeting

Graduate debt, rent and high living costs have made it hard for millennials to save for a house, a pension or even a holiday. For Ollie Purdue, a 23-year-old law graduate, this was reason enough to launch Loot, a banking app targeted at tech-dependent 20-somethings who want help to manage their money and avoid falling […]

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Eurozone inflation climbs to highest since April 2014

A welcome dose of good news before next week’s big European Central Bank meeting. Year on year inflation in the eurozone has climbed to its best rate since April 2014 this month, accelerating to 0.6 per cent from 0.5 per cent on the back of the rising cost of services and the fading effect of […]

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Wealth manager Brewin Dolphin hit by restructuring costs

Profits at wealth manager Brewin Dolphin were hit by restructuring costs as the company continued to shift its focus towards portfolio management. The FTSE 250 company reported pre-tax profits of £50.1m in the year to September 30, down 17.9 per cent from £61m the previous year. Finance director Andrew Westenberger said its 2015 figure was […]

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Travis Perkins and Polymetal to lose out in FTSE 100 reshuffle

Builders’ merchant Travis Perkins and mining company Polymetal face relegation from the FTSE 100 after their recent performances were hit by political events. The share price of Travis Perkins has dropped 29 per cent since the UK voted to leave the EU in June, as economic uncertainty has sparked concerns among some investors about the […]

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RBS share drop accelerates on stress test flop

Stressed. Shares in Royal Bank of Scotland have accelerated their losses this morning, falling over 4.5 per cent after the state-backed lender came in bottom of the heap in the Bank of England’s latest stress tests. RBS failed the toughest ever stress tests carried out by the BoE, with results this morning showing the lender’s […]

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Categorized | Financial

LVMH private equity closes $2.75bn fund

Posted on November 22, 2016

The US firm that runs the private equity investments of French luxury goods company LVMH has raised $2.75bn for a buyout fund that will invest in mid-market consumer growth companies.

L Catterton, the largest consumer-focused private equity firm in the world, said on Tuesday it has closed its eighth flagship buyout fund, L Catterton Partners VIII, at $2.75bn. It plans to commit between $60m and $500m to high-growth, middle-market, consumer companies across North America and Europe.

L Catterton was formed earlier this year when LVMH combined its private equity and real estate investment divisions with consumer-focused private equity firm Catterton.

The new company is 60 per cent owned by the partners and the remainder is held by LVMH and Groupe Arnault, the family holding company of LVMH chairman and CEO Bernard Arnault.