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Advent expands beauty portfolio with $165m Salt & Stone deal
Advent has agreed to acquire a majority stake in Salt & Stone, as the private equity firm expands its exposure to high-growth premium beauty and wellness brands. The Los Angeles-based body care company generates more than $165m in revenue and has delivered double-digit growth across all channels in 2025, positioning it as one of the…
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Missoni family passes baton as FSI takes control of €130m fashion house
FSI has become the controlling shareholder of Missoni, increasing its stake in the Italian fashion group rather than pursuing a sale to international buyers, according to Italian daily Il Sole 24 Ore. The transaction preserves domestic ownership of the brand, which has been a symbol of Italian luxury since 1953. FSI will partner with the Fassin and Bachmueller…
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From ABBA to heritage forests: the unexpected marriage driving the next wave of alternatives
A growing number of LPs is looking for assets that sit outside public-market cycles, and yet that still carry a clear sense of purpose. They want predictable cash flows, but they also want investments tied to real cultural or environmental value. In most corners of private equity, “alternative investing” means infrastructure, credit, or secondaries. At…
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Zegna reshapes leadership as Investindustrial and Temasek-backed group elevates next generation
Ermenegildo Zegna has announced a major leadership transition as the luxury menswear group strengthens its governance structure with the support of long-standing investors Investindustrial and Temasek. Chief Executive Gildo Zegna will move into the role of executive chairman, while his sons, Edoardo and Angelo, will take over as co-chief executives of the flagship Zegna brand,…
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Goldman Sachs bets big on SKIMS with $225m funding, valuing shapewear empire at $5bn
Kim Kardashian’s apparel and shapewear brand SKIMS has completed a $225m equity financing round led by Goldman Sachs Alternatives, valuing the company at $5bn. The round also included participation from BDT & MSD Partners’ affiliated funds. The new capital will be used to expand SKIMS’ international and retail footprint, invest in product innovation, and strengthen…
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“Cash is king, and anything else is an opinion”: private equity’s return to fundamentals
After a decade of easy money and multiple expansion, European private equity is rediscovering what value creation really means. At the DACH Private Equity Insights Conference in Munich, senior executives from Deutsche Private Equity, Bridgepoint, Eevolve, and Apheon agreed that the model is far from broken. However, the era when buyout firms could rely on cheap leverage…
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L Catterton appoints former British Fashion Council chair Stephanie Phair as senior adviser
L Catterton, the LVMH-backed private equity firm, has appointed Stephanie Phair as senior adviser, expanding its global bench of consumer-focused expertise, WWD reports. Phair, who chaired the British Fashion Council between 2018 and 2022, will work with L Catterton’s portfolio companies worldwide, leveraging her experience across fashion, e-commerce, and consumer industries. She previously served as…
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Dexelance acquires 65% stake in Mohd as Made in Italy Fund exits in high-return deal
Dexelance has acquired a 65% stake in Mohd, a leading Italian high-end furniture e-commerce and retail business, from Made in Italy Fund and the Mollura family. The Mollura family will reinvest in the business and retain a significant minority stake. The transaction marks the second exit for Made in Italy Fund, the private equity vehicle…
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Ulta Beauty takes UK leap with Space NK acquisition from Manzanita Capital
Ulta Beauty has acquired British beauty retailer Space NK from private equity firm Manzanita Capital, in a strategic move to accelerate its international expansion efforts. Founded in 1993, Space NK currently operates 83 stores across the UK and Ireland. Following the acquisition, the company will continue to run as a standalone subsidiary under the leadership…
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Canada Goose’s future in flux as Bain weighs stake divestment
Bain Capital is reportedly weighing the sale of part or all of its controlling stake in luxury outerwear brand Canada Goose Holdings Inc., according to sources cited by Bloomberg. The private equity firm is said to be working with advisers and sounding out interest from potential buyers, including other private equity groups. Bain first acquired…