L Catterton launches new credit platform

• Prior to joining L Catterton, Rashid was a partner and co-founder of Adams Street Partners’ private credit group
• Before joining Adams Street, Rashid was a managing director in Oaktree Capital’s U.S. private debt group
• Since 1989, L Catterton has made approximately 250 investments in consumer businesses

L Catterton has formed a private credit platform.

L Catterton has named Shahab Rashid as managing partner and private credit co-head. Rashid will lead L Catterton’s efforts in the alternative credit space by providing debt solutions to private equity-backed, middle-market companies.

“Launching a private credit strategy is a natural extension of L Catterton’s proven model and will strengthen our position as the partner of choice for companies seeking flexible capital solutions,” said Scott Dahnke, Global co-CEO of L Catterton, in a statement. “We are excited to welcome Shahab, who brings decades of credit investing experience to help us build a comprehensive private credit capability that complements our 33-year history in making private equity investments.”

Rashid joins L Catterton with more than 20 years of experience in the private credit and leveraged finance industries. Prior to joining L Catterton, Rashid was a partner and co-founder of Adams Street Partners’ private credit group. Before joining Adams Street, Rashid was a managing director in Oaktree Capital’s U.S. private debt group. He started his career in the leveraged finance group at Salomon Smith Barney / Citigroup.

L Catterton has more than $33 billion of equity capital across its fund strategies and 17 offices around the world. L Catterton is a consumer-focused private equity firm. Since 1989, the firm has made approximately 250 investments in consumer businesses.