Catterton Partners has launched its Catterton Growth Partners Fund II targeting $300 million, according to documents filed with the US Securities and Exchange Commission. Fund II has a $350 million hard-cap.
The firm’s growth fund strategy focuses on consumer companies requiring between $10 million and $30 million in equity. Catterton’s previous growth fund closed on $300 million in 2008, attracting commitments from limited partners including the Pennsylvania Public School Employees’ Retirement System and the North Carolina State Treasury, according to Private Equity International’s Research and Analytics division.
Catterton Partners declined to comment. Ineo Capital is acting as placement agent for Fund II, according to SEC documents.
Catterton is also in market with its seventh flagship buyout fund, which has a $1.2 billion target. The firm invests exclusively in consumer businesses in the North American mid-market, focusing on retail, restaurant, food and beverage, marketing services and consumer brands. Catterton’s sixth fund collected $1 billion on a $900 million target in 2006, after which the firm raised an additional $200 million for Fund “VI-B” in 2010.
Catterton has made one investment so far in 2013, backing home products retailer Fixtures Living last month, according to Catterton’s website. The firm was particularly active on the acquisition front in 2012, investing in e-commerce service provider ePrize, French luxury brand Baccarat, fresh fruit company Edible Arrangements, food ingredients business Mendocino Farms and electronic cigarette brand NJOY Electronic Cigarettes.
Greenwich, Connecticut-headquartered Catterton was founded in 1989 and has over $3 billion of equity capital under management.