Consumer goods-focused private equity firm L Catterton, owner of footwear brand Birkenstock, has announced the formation of an impact investing platform and the appointment of Tehmina Haider and Michael O’Leary as partners to lead the strategy. Called the Impact Fund, the platform will partner with the next generation of mission-driven consumer goods companies, leveraging the company’s proven ability to build leading and category-defining brands. The goal is to generate both attractive risk-adjusted returns and significant progress in addressing some of the world’s most pressing social and environmental challenges. The Impact Fund platform will leverage L Catterton’s resources and capabilities to invest in and support consumer companies whose mission is to make the economy cleaner, healthier and more equitable. According to the firm, the fund will focus on companies that mitigate climate change, reduce waste and conserve nature, address inequities in health, wellness and nutrition, and create a more inclusive economy by expanding access to the financial system and improving education and workforce development.
Haider, who was previously a senior investor in L Catterton’s Growth Fund, returns from Harry’s, Inc., where she served as the company’s chief growth officer. In that role, she was responsible for the development and acquisition of new brands, as well as their operations following launch or acquisition. During her time at L Catterton, she helped lead compelling investments in the beauty, personal care, apparel and pet categories. Prior to L Catterton, she was a consumer protection investor at Castanea Partners and worked on the strategy and new business development team at Estée Lauder.
O’Leary previously worked at Engine No. 1, where he served as managing director. Prior to that, he was part of the founding team of Bain Capital’s Impact Fund and was an investor in its private equity fund. He is co-author of Accountable: The Rise of Citizen Capitalism, which describes the challenges and opportunities of impact investing. He and his work have been featured in The Atlantic, Bloomberg, Financial Times, Harvard Business Review and the New York Times, among others.
“L Catterton has seen how impact can drive economics at consumer companies today. We now have the opportunity to make significant progress against some of our biggest social and environmental challenges by scaling this next generation of companies,” commented O’Leary. “The future of the consumer sector is increasingly sustainable, inclusive, and equitable, and we’re building L Catterton Impact to help lead that transformation.”
