Daily Digest

LVMH-Backed L Capital Raises $950 Million for Asian PE Fund

Louis Vuitton Vienna Store | Source: Louis Vuitton

“L Capital Asia, which is backed by LVMH Moët Hennessy Louis Vuitton, Groupe Arnault as well as the investment company of France’s richest man and Malaysia’s Corp Bhd., began fundraising in March with an initial target of $800 million. Instead, L Capital reached the $950 million cap it set in less than six months, thanks to support from sovereign wealth funds, pension funds and family offices from North America, Europe and Asia.”