Band-focused private equity firm L Capital has made a strategic investment in Chinese cosmetics company Guangdong Marubi Biological Technology Stock Co.
L Capital, which is backed by luxury goods group LVMH, raised $1bn for its fifth Asia fund in June of this year. Ten per cent of the fund was contributed by LVMH, while the rest came from institutional investors based in the Middle East, Canada, Europe, the US and Asia, including Australia.
L Capital recently bought a 49.9 per cent stake in iconic Australian clothing and footwear brand RM Williams, which was the last deal from its $640m fourth fund.
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