L Catterton Establishes Private Credit Platform

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Jul 12, 2022, 09:00 ET

Appoints Shahab Rashid as Managing Partner and Co-Head of Private Credit

GREENWICH, Conn., July 12, 2022 /PRNewswire/ -- L Catterton, the largest global consumer-focused private equity firm, today announced it has established a private credit platform and appointed industry veteran Shahab Rashid as Managing Partner and Co-Head of Private Credit. Mr. Rashid will lead L Catterton's efforts in the global alternative credit space by establishing the firm's direct lending strategy that will provide flexible debt solutions to private equity-backed, middle-market companies.

"Launching a private credit strategy is a natural extension of L Catterton's proven model and will strengthen our position as the partner of choice for companies seeking flexible capital solutions," said Scott Dahnke, Global Co-CEO of L Catterton. "We are excited to welcome Shahab, who brings decades of credit investing experience to help us build a comprehensive private credit capability that complements our 33-year history in making private equity investments."

Mr. Rashid joins L Catterton with more than 20 years of experience in the private credit and leveraged finance industries. Prior to joining L Catterton, Mr. Rashid was a Partner & Co-Founder of the Private Credit Group at Adams Street Partners. In this role, he was responsible for leading the build-out of the private credit business, including developing the strategy, recruiting and managing the team, heading the fundraising efforts, and approving investment opportunities. Before joining Adams Street, Mr. Rashid was a Managing Director in the U.S. Private Debt Group at Oaktree Capital Management, where he led the team in investing across the capital structure in private equity-backed, middle-market companies. He started his career in the Leveraged Finance Group at Salomon Smith Barney / Citigroup.

"Our unparalleled reputation and deep industry insights position us to successfully expand our franchise in complementary strategies like private credit," said Michael Chu, Global Co-CEO of L Catterton. "Leveraging our global sourcing power and strong relationships with lenders, banks, entrepreneurs, and other private equity firms around the world, we are poised to offer a broader range of products that deliver the strong risk-adjusted returns for which we are known."

"As the private credit market continues to grow, L Catterton is well-positioned to leverage its differentiated capabilities to not only be a value-added partner to private equity sponsors and middle-market businesses, but also generate attractive risk-adjusted returns for our investors," said Shahab Rashid. "I have long admired L Catterton for its standing within the industry and I look forward to helping the firm build a world-class private credit business."

About L Catterton

With more than $33 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. Leveraging deep category insight, operational excellence, and a broad strategic network of relationships, L Catterton's team of nearly 200 investment and operating professionals support management teams around the world in building strong, category-leading brands. Since 1989, the firm has made approximately 250 investments in consumer businesses. For more information about L Catterton, please visit lcatterton.com.

Media Contact:

L Catterton

Julie Hamilton
Managing Director, Firm Communications
[email protected]
203.742.5185

SOURCE L Catterton