Private equity firm sponsored by LVMH sets up shop in London

L Capital has opened a London investment office and installed former Glenmoragnie president and managing director Paul Skipworth as its head.

With €1 billion currently under management, L Capital is building on its European presence by selecting London as a new base.

The private equity firm, which is sponsored by luxury goods business LVMH Group and Groupe Arnault, also has operations through its Paris headquarters and six other global offices. L Capital Asia itself has $1.5 billion under management.

L Capital currently has only one pure British portfolio company, in the form of Princess Yachts International, and has also backed the likes of clothing brands Pepe Jeans and Gant. According to the firm, it focuses on the personal care and wellbeing, personal equipment, home and family equipment and selective retailing sectors.

London office head Paul Skipworth, who has also served as senior vice president of strategy at Moet Hennessy, LVMH Wines & Spirits, started his career in corporate strategy consulting before moving into venture capital with early-stage investment fund IncubAsia.

Philippe Franchet, senior partner at L Capital Management, says, ‘London is a key private equity market and the UK is home to many iconic consumer brands.

‘Given the strength of the UK market and the opportunities which it offers, it is an obvious next step to expand our network into this market.’

LVMH has itself made individual commitments into businesses, with one of its latest involving clothing and footwear retailer R.M. Williams. Back in April 2013, LVMH invested an undisclosed amount ion the Australian brand so that it could continue with overseas expansion.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.