Sector developments and company hires

HPC buys into L Catterton to support credit strategy
Hunter Point Capital (HPC) has acquired a minority stake in L Catterton to support the launch of the consumer-focused private equity firm’s new credit strategies. In recent months, L Catterton has launched platforms dedicated to impact investing and private credit, as well as a renminbi-denominated growth capital fund.

HPC co-founder and executive chair Bennett Goodman will serve as strategic credit advisor to L Catterton as part of the deal. All proceeds from the transaction will be reinvested into L Catterton’s funds.

In other news…

North America
Chicago-headquartered investment manager Antares Capital has appointed Apex Credit Partners’ Andrew Stern as md in its liquid credit team. The firms says the appointment is intended to support Antares’s ongoing expansion beyond private debt, as it looks to become a “full-scale asset manager”.

Stern will focus on portfolio management and trading for the firm’s mid-market origination and CLO platforms. He leaves his role as md at Apex after 10 years and will continue to be based in New York.