Private equity firm Catterton has hired several Eton Park associates to form its first Latin America fund.
Former Eton Park executives Dirk Donath and Ricardo Salmon are joining Catterton along with several team members from Eton Park, according to media reports. Donath, who joined Eton Park in 2005 and has extensive experience with illiquid emerging market investments, will be a senior partner at Catterton.
Catterton plans to raise as much as $500 million for the new fund, according to regulatory filings. It will invest across Latin America and will be named Catterton Aimara Latin America II.
Attracted by a rising consumer class and an active exit scene, the 96 active Latin American funds tracked by data provider Preqin are seeking over $20 billion to invest into the region.
Catterton was founded in 1989 by Frank Vest, Michael Chu, and former U.S. Secretary of the Treasury Bill Simon. It has more than $4 billion in committed capital and is headquartered in Greenwich, CT.