L Catterton Appoints Peter Chang as Managing Partner and Co-Head of Private Credit

GREENWICH, Conn., June 22, 2023 /PRNewswire/ -- L Catterton, a leading global consumer-focused investment firm, today announced the appointment of Peter Chang as Managing Partner and Co-Head of Private Credit. Together with Shahab Rashid, who joined L Catterton last year to launch the Private Credit platform, Mr. Chang will co-lead the firm's direct lending strategy, which provides flexible debt solutions to private equity-backed, middle-market companies. Mr. Rashid and Mr. Chang worked together for nearly 12 years at Oaktree Capital Management ("Oaktree").

Mr. Chang joins L Catterton after 18 years at Oaktree, most recently as Co-Portfolio Manager, Managing Director, and SBIC Principal in the U.S. Private Debt strategy. In this role, he was responsible for managing the overall strategy, including the origination and approval of investment opportunities in the debt and equity of private equity-backed, middle-market companies. Mr. Chang was also involved in various business development initiatives, including establishing Oaktree's inaugural SBIC fund. He began his career in the Syndicated and Leveraged Finance Group at JPMorgan Securities Inc.

"We are pleased to have Peter join and help co-lead the incredibly talented private credit team at L Catterton," said Scott Dahnke, Global Co-CEO of L Catterton. "We look forward to benefitting from Peter's deep credit investing knowledge and strategic insights, and I am confident the platform we have built is well-positioned to capitalize on the growing opportunities in the private credit market."

"I've long admired L Catterton's success as a leading global consumer-focused investor and am honored to join the firm," said Mr. Chang. "After having known and worked with Shahab for nearly 20 years, I look forward to building an industry leading private credit platform together. Leveraging L Catterton's extensive resources and industry insights, we are a truly differentiated financing partner to private equity sponsors and their portfolio companies."

"I am thrilled to welcome Peter to the firm," said Mr. Rashid. "He is a highly experienced credit investor who brings significant expertise and relationships to the firm. We share strong conviction in L Catterton's unique positioning in the market and the opportunities ahead for us in private credit, and remain committed to generating attractive risk-adjusted returns for our investors."

L Catterton launched its Private Credit strategy in 2022, and the firm has now expanded its Private Credit team to nine investment professionals with extensive experience in the global alternative credit space. In March 2023, L Catterton announced a strategic partnership with Hunter Point Capital ("HPC") to accelerate the growth of the platform with Bennett Goodman, HPC's co-Founder and Executive Chairman, serving as a Strategic Credit Advisor.

About L Catterton
L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world's most iconic consumer brands. For more information about L Catterton, please visit www.lcatterton.com.

Media Contact:
L Catterton
Julie Hamilton
Managing Director, Firm Communications
[email protected]
203.742.5185

SOURCE L Catterton