26 Apr '11, 9am

LVMH-backed manager launches $650 mln Asia private equity fund: SINGAPORE, April 26 (Reuters) - L Capital, a pri...

SINGAPORE , April 26 (Reuters) - L Capital, a private equity manager backed by LVMH , on Tuesday launched a $650 million private equity fund that will invest in consumer firms based in China , India and Southeast Asia. The fund, called L Capital Asia, will buy minority stakes in promising companies engaged in retail, food and beverage, and beauty and wellness. L Capital will not deal with French parent LVMH, the world's largest luxury goods firm, to avoid any perceptions of conflicts of interest, Asia managing partner Ravi Thakran said at a press conference in Singapore. "We've defined in our constitution that we will never buy anything from LVMH nor will we sell to LVMH," said Thakran, who is also LVMH's group president for South and Southeast Asia and the Middle East . "We do not want to be perceived at any point in time that we're shifting from the left pocket to the ri...

Full article: http://sg.news.yahoo.com/lvmh-backed-manager-launches-650...

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