L Catterton recruits executive from India's CX Partners

Mehta has nearly 15 years worth of experience in professional investment management, having worked for Temasek Holdings and 3i Group before joining CX in 2010. He oversaw the Indian GP's healthcare, niche manufacturing, information technology, and outsourcing coverage. Mehta has confirmed his appointment by L Catterton on his LinkedIn profile. 

At CX Partners, Mehta was involved in investments in automotive software and at private security specialist SIS India, pharmaceutical developer Natco Pharma, ATM provider TSI India and KPIT, a software outsourcing business.

Earlier in the month, L Catterton hired Scott Chen, previously a partner at TPG Capital, as its co-managing partner for Asia. Chen is expected to lead Asia operations alongside Chinta Bhagat. Last week, the private equity firm invested in India’s Jio Platforms, the holding company for various internet and telecom assets owned by India’s Reliance Industries.

US-based L Catterton was formed in 2016 through the merger of Catterton's North American and Latin American businesses with L Capital's private equity and real estate operations in Europe and Asia. It claims to be the largest and most experienced consumer-focused PE firm globally, with some $20 billion in assets under management (AUM) across six platforms. A strategic relationship with luxury goods giant LVMH is a key feature of the strategy.

CX has $625 million in AUM and investments in 16 companies in the country. The firm raised $515 million for its debut fund in 2010 under the stewardship of Ajay Relan, who stepped back in 2015. Two years ago, Indian media reported that CX had achieved a first close of $250 million on Fund II.

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• Topics
• South Asia
• GPs
• People
• CX Partners
• L Catterton
• Appointments
• India