Mousse Companions, the household workplace for one of many world’s largest fortunes, is reshaping one among its greatest bets.
The funding agency for the household behind luxurious model Chanel has offered most of its stake in Ulta Beauty Inc., an funding held for at the least 14 years that’s returned greater than 1,700%.
Since late March, the agency that manages the wealth of Alain and Gerard Wertheimer offered shares within the cosmetics retailer value about $480 million, in line with information compiled by Bloomberg. The New York-based household workplace in the meantime this month increased its stake in rival Beautycounter and was a part of a funding spherical for quick informal restaurant chain Cava.
Mousse Companions is without doubt one of the world’s largest and most discrete household workplaces. It has been run for greater than 20 years by Charles Heilbronn, half-brother of Alain and Gerard, who’re credited with proudly owning equal shares of the London-based luxurious empire constructed on No. 5 fragrance, the little black costume and the genius of designer Karl Lagerfeld.
The general public filings are a uncommon glimpse into an funding agency that manages a part of an nearly $90 billion fortune. Mousse invests in personal fairness, actual property and credit score, usually within the type of enterprise capital. Because the begin of 2020, it has backed communication platform MessageBird, catering firm Butler Hospitality and health agency Tonal. It additionally purchased a stake in Nature’s Fynd, a meals startup producing a protein developed from a volcanic microbe present in Yellowstone Nationwide Park.
Mousse nonetheless controls a stake in Ulta Magnificence value about $150 million. It lower the holding because the shares traded close to a file. The Bolingbrook, Illinois-based firm’s inventory has surged greater than 150% since mid-March of 2020.
A spokeswoman for Ulta Magnificence declined to remark, whereas Heilbronn didn’t reply to a request for remark by LinkedIn.
Mousse employs greater than three dozen individuals in Manhattan, Hong Kong and Beijing. The agency’s latest hires embrace former funding banking analysts from JPMorgan Chase & Co. and Lazard. Suzi Kwon Cohen joined as chief funding officer in 2016 after main North America personal fairness for Singapore’s sovereign wealth fund.
Heilbronn has helped run issues because the begin, putting profitable bets on different skin-care and cosmetics firms corresponding to Coty Inc., whereas additionally taking stakes in hospitality, furnishings and pharmaceutical firms.
The household workplace doesn’t disclose how a lot cash is at its disposal, however Chanel distributed greater than $2 billion in dividends previously 5 years, in line with the Bloomberg Billionaires Index.
Heilbronn has been an Ulta Magnificence director for greater than 20 years, with the household investing within the magnificence retailer forward of its 2007 preliminary public providing.
— With help by Kim Bhasin, and Gerald Porter Jr.