L Catterton taps Chang as managing partner and private credit co-head

• Rashid and Chang worked together for nearly 12 years at Oaktree Capital Management
• Most recently, Chang was co-portfolio manager, managing director and SBIC principal in the U.S. private debt strategy
• L Catterton launched its private credit strategy in 2022

L Catterton has named Peter Chang as managing partner and co-head of private credit.

Alongside Shahab Rashid, Chang will co-lead the firm’s direct lending strategy, which provides flexible debt solutions to private equity-backed, middle-market companies. Rashid and Chang worked together for nearly 12 years at Oaktree Capital Management.

Most recently, Chang was co-portfolio manager, managing director and SBIC principal in the U.S. private debt strategy.

“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 in a statement. “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.”

L Catterton launched its private credit strategy in 2022.

L Catterton manages approximately $33 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. The firm was founded in 1989.