The $33 billion global consumer-focused private equity firm L Catterton has opened its impact investing platform with the appointment of Tehmina Haider and Michael O’Leary as partners to lead the new strategy.
“Since our inception 33 years ago, we have been proud to back many best-in-class sustainable consumer companies. We are confident that now is the right time to launch a dedicated impact fund platform that will further enable us to support mission-driven entrepreneurs and companies where impact is a core driver of the brand,” said L Catterton Global Co-CEO Michael Chu in a statement. “Tehmina and Michael bring deep experience in consumer and impact investing, and we look forward to leveraging their leadership as we establish this platform.”
Haider rejoins the firm from Harry’s Inc., where she served as that company’s chief growth officer. Prior to that she was a senior investor in L Catterton’s Growth Fund, where she helped lead investments across the beauty, personal care, apparel and pet categories.
O’Leary had been a managing director at Engine No. 1; prior to that he served on the founding team of Bain Capital’s impact fund and as an investor on its private equity fund.
The new Impact Fund will partner with mission-driven consumer companies in a bid to deliver attractive risk-adjusted returns and significant progress against some of the world’s most pressing social and environmental challenges.
The investment focus is on businesses that mitigate climate change, reduce waste, and preserve nature; eliminate disparities in health, wellness and nutrition; and create a more inclusive economy by expanding access to the financial system and improving education and workforce development.
Scott Dahnke, Global co-CEO of L Catterton, added, “With our distinctive insights and operations-centric approach to value creation, we are poised to identify the most attractive investment opportunities amidst this shift and partner with strong companies in advantaged categories to accelerate growth.”