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LVMH-Backed L Catterton Plans to Raise $250 Million in Asia SPAC

  • Private equity firm co-founded by LVMH joins blank-check push
  • Singapore SPAC will target consumer technology firms in Asia

L Catterton, the $20 billion private equity firm co-founded by LVMH, has lodged confidential filings to launch a special purpose acquisition company that aims to raise about $250 million for targets in Asia, according to people familiar with the matter.

L Catterton Asia Acquisition Corp. was registered with the U.S. Securities and Exchange Commission on Jan. 20, with the firm’s Singapore office listed as its address. The fund will be sponsored by L Catterton Asia’s $1.45 billion third fund, and will focus on consumer technology firms in the region, the people said. A representative for L Catterton said they couldn’t comment.