L Catterton IX

Overview

L Catterton IX, L.P. (together with its offshore parallel vehicle, L Catterton IX Offshore, L.P.) is the ninth flagship buyout vehicle raised by L Catterton, the New York/Greenwich, CT-headquartered consumer-focused private equity firm (backed in part by LVMH and Groupe Arnault/Financière Agache). The fund's entity was created in Delaware/Cayman around May 2019 and began marketing with a stated target of $4.0 billion, roughly 45% larger than the $2.75 billion raised for predecessor fund L Catterton VIII (closed 2016). An SEC Form D amendment (filed August 28, 2020, confirmed directly against the SEC filing record) shows the vehicle had collected $3.71 billion from 58 investors as of that date. Multiple secondary sources (PitchBook, Wikipedia, PitchBook's own news coverage) subsequently report the fund closed above target at approximately $5.0 billion in 2020. No primary-source press release announcing a specific final-close date was located in this second pass either — a "12/31/2020" date appearing on some fund-data aggregator pages (e.g., aum13f.com, Bloomberg LEI record) is an LEI-registration or data-snapshot date, NOT a confirmed fund final-close date, and should not be treated as one. Strategy is mid-market, control/co-control buyout investing in consumer-facing sectors: consumer services, apparel & textile products, travel & leisure, leisure products, beauty & personal care, food & beverages, media & marketing services, healthcare, and technology. Per PitchBook's fund-level tracking, L Catterton IX has made 18 platform investments, including AmaWaterways (cruise lines; most recent listed deal, ~May 2024), Kettle Cuisine (food products), and Thorne HealthTech/Thorne Research (consumer health, ~$680 million take-private completed October 16, 2023). Birkenstock's 2021 recapitalization (~$4.35B enterprise value, ~$3.49B equity investment via Luxembourg holding entity BK LC Lux MidCo S.à r.l.) is widely reported in press/aggregator coverage as associated with this vintage, but this second pass also could not find a primary L Catterton or Birkenstock document that names "L Catterton IX" specifically as the investing vehicle — fund-level attribution remains unconfirmed and should stay flagged as such. Alaska Permanent Fund Corporation is a disclosed limited partner (per P&I/PitchBook reporting), though a specific commitment dollar amount to Fund IX specifically was not found in this pass (Alaska Permanent's disclosed amounts of $50M to L Catterton Growth V and $25M to L Catterton X are for different, later vehicles and should not be conflated with Fund IX). Some fund-data aggregators show inconsistent/likely-unreliable secondary figures for LP count (e.g., "20 limited partners" per one aggregator, "93 investors" per another, one of which also mislabels the fund as a "hedge fund" with an implausible director-tenure field) — these conflict with the primary-source Form D figure of 58 investors and should be treated with low confidence, not merged into confirmed facts. L Catterton's broader platform reports roughly $37-40 billion in AUM across private equity, credit and real estate per various 2025-2026 public statements (a firm-level, not fund-level, figure; the firm has since raised an ~$11 billion "L Catterton X" successor buyout/growth complex).

Key Facts

Fund type

Buyout

Vintage year

2020

Strategy

Consumer-focused buyout

Managed by

L Catterton

Fund size

USD 5.0B

Related on NestLens

• L Catterton · Capital Manager (GP)