Catterton closes Fund VI at $1bn

The Greenwich, Connecticut-based firm’s sixth fund brings its total capital under management to $2 billion.

Catterton Partners has closed on its sixth fund, Catterton Partners VI, at $1 billion. The fund was raised in just ten weeks and finished “significantly oversubscribed” relative to its hard cap, the firm said.

Catterton, which invests in consumer-focused middle-market companies, now has $2 billion under active management. In the past the firm has invested in companies such as Mexican fast-food chain Baja Fresh, timepiece retailer Watch World and Kettle Foods, a maker of organic potato chips.

Co-founder and managing partner J. Michael Chu said that the new fund has attracted both returning and new investors, including Dutch pension fund manager AlpInvest Partners.

In December, Catterton hired Michael Farello, the former vice president of US consumer marketing and ebusiness at Dell, as a new partner. During Farello’s three years at Dell the company was ranked the number two “best brand’ in the world by the Harris Poll.

Founded in 1990, the firm invests across a number of targeted consumer industry verticals including food and beverage, retail and restaurants, consumer brands, and media and marketing services.