Private equity firm Castanea Partners has hired Ron Frasch as an operating partner to focus on luxury products and services.
Prior to joining the firm, Frasch, pictured, served as president and chief merchandising officer of luxury retailer Saks Fifth Avenue until the sale of the company to Hudson’s Bay last year.
He has also served as CEO and president at Bergdorf Goodman and held senior executive positions at GFT USA, Escada USA and Neiman Marcus.
Castanea managing partner Brian Knez said, “Ron is a world-class merchant and a talented and experienced business executive. This is a rare skill set and we’re very excited to add Ron to the Castanea team.
“As a firm, we are focused on bringing unique operating experience and insight to our portfolio companies and Ron’s extensive knowledge and network in luxury goods and services will add significant value to our existing portfolio and help us identify exciting new opportunities for investment.”
Castanea’s previous investments include colour cosmetics brand Urban Decay, which was sold to L’Oréal in November 2012.
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