L Capital Launches $650M Asia Fund

L Capital, a private equity manager backed by French luxury goods giant LVMH, has launched a $650 million private equity fund for consumer deals in China, India and Southeast Asia, Reuters reported. The fund, L Capital Asia, will take minority stakes in retail, food and beverage and beauty and wellness companies, Reuters wrote. The fund expects to invest $200 million this year, and will reportedly announce one Chinese and one Indian fashion company investment within the next 60 days.

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