L Capital Asia's parent LVMH to combine private equity unit with Catterton

L Capital Asia, the Singapore-based private equity fund sponsored by LVMH Moët Hennessy Louis Vuitton, will cease to exist as separate entity, after its parent firm – L Capital – the investment arm of luxury retail conglomerate LVMH, announced a merger with American consumer-focused private equity firm Catterton, to create a new consumer goods-focused private equity firm called L Catterton.