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L Catterton pulls in $844M for 3rd Asian fund, backs e-retailer The Honest Co.

Private equity and venture capital firm L Catterton, formerly known as Catterton Partners, has raised about $844.4 million to date for its third Asian fund.

The L Catterton Asia 3 LP fund has a $1.25 billion fundraising target and has already received capital from 16 investors, according to a June 5 SEC filing.

Separately, L Catterton is making a $200 million minority investment in The Honest Co., a baby, personal care and beauty product retailer founded by actress Jessica Alba. The company, which focuses on the e-commerce, retail and direct-to-consumer markets, is led by Nikolaos Vlahos as CEO and is headquartered in Los Angeles.

The Honest Co. said in a release that the investment should support its innovation efforts and expand its supply chain and global reach by opening new distribution channels. The company recently partnered with European beauty retailer Douglas to bring the full Honest Beauty line to seven European countries beginning in spring 2019.

L Catterton's investment in The Honest Co. is slated to close later in June, pending regulatory approval and other customary conditions. Goldman Sachs & Co. LLC was exclusive financial adviser to The Honest Co.