Restaurants

The CapitalSpring Investment Partners VII fund reflects the firm’s deep specialization in the multi‑unit consumer and service sectors, bridging flexible debt and equity solutions under one platform. Led by CapitalSpring, the fund seeks to partner with leading management teams in businesses with scale‑opportunity in branded restaurants, fitness/wellness chains, car‑washes, automotive aftermarket, and other multi‑location service operations. With a target raise of approximately US $1 billion, the fund is sized to support both organic growth and strategic add‑on acquisitions. The investment strategy emphasises structuring solutions ranging from senior debt to subordinated mezzanine, preferred equity and minority or control equity positions. This flexibility allows the fund to engage in buyouts, recapitalisations, growth capital, and complex transition scenarios, especially in the multi‑unit ecosystem. According to the firm’s “Investment Profile”, CapitalSpring targets companies across a broad range of growth stages—from emerging business models to large international franchise platforms. Geographically, the fund focuses on the United States, seeking to leverage the manager’s strong network and operational resources in the U.S. market. The underlying portfolio companies typically operate in franchises or multi‑unit models where operational scale, brand recognition, and replicability drive value. Although the fund may scout adjacent geographies, the primary investment geography remains the U.S. market. In terms of target company size and financial policy, the fund is structured to back investments typically in the range of US $10 million to US $150 million or more per company. The firm emphasises “multi‑location businesses in other consumer‑facing industries” and service providers tied to the restaurant/retail end‑markets. While specific metrics around revenues, EBITDA or valuations for each deal are not publicly disclosed in full detail, the typical investment size indicates mid‑market companies with established operations, growth potential, and margin characteristics consistent with branded service or retail platforms.

L Catterton India Fund I marks the firm’s first India-dedicated investment vehicle focused exclusively on the consumer sector. Backed by LVMH and co-led by Sanjiv Mehta (former CEO of Hindustan Unilever), the fund aims to capitalize on India’s fast-growing consumption trends. Launched in 2024, the fund operates as a determinate close-ended trust registered under SEBI's Category II AIF regime, reflecting strong compliance and governance standards. With a fundraising target of $600 million, the fund achieved a first close of $200 million in September 2025. Key anchor commitments include International Finance Corporation (IFC) with $30 million, and clients of Kotak Private. The fund also has a green-shoe option of an additional $200 million, potentially increasing the total fund size to $800 million. The fund will deploy capital across 7 to 9 mid-stage companies, with investment tickets ranging from $25 million to $150 million. L Catterton India Fund I will focus on high-growth consumer sub-sectors such as food & beverage, consumer services (including healthcare), retail & restaurants, and consumer brands. Its strategy aligns with India’s expanding middle class and rising disposable incomes. L Catterton India Fund I leverages the global private equity expertise of L Catterton and the local leadership of Sanjiv Mehta. Backed by institutional LPs like IFC and supported by distribution through Kotak Private, the fund combines capital with operational value-add to help Indian consumer companies scale both locally and internationally. The fund’s value proposition is centered on growth acceleration and brand building.

Roark Capital Partners VII is the flagship private equity vehicle of Roark Capital, targeting $5 billion to fuel its strategy of investing in franchise and multi-location consumer-facing businesses. The fund builds on Roark’s extensive experience in the consumer, services, and franchise sectors, where it has backed brands such as Arby’s, Dunkin’, and Subway. With more than half of its target already raised, Fund VII reflects robust investor confidence in Roark’s disciplined buy-and-build approach. The fund’s core strategy is centered around acquiring platform businesses with strong brand equity and accelerating growth through consolidation and operational improvement. Roark specializes in supporting management teams in scaling their networks, improving unit economics, and expanding footprints across geographies. Fund VII will continue this strategy with a particular focus on multi-brand platforms and growth-stage operators with potential for franchising. Roark Capital aims to deploy capital through control-oriented buyouts, platform acquisitions, and select growth partnerships. Target companies typically exhibit predictable cash flows, high customer retention, and potential for franchise replication. The fund also allows for meaningful add-on activity to bolster existing platforms, with a focus on building category leaders in fragmented industries. Fund VII reinforces Roark’s positioning within the large-cap private equity space. As fundraising continues, the firm is expected to pursue investments across North America, leveraging its operational playbook, brand development expertise, and longstanding LP relationships. The vehicle is designed to generate value through scale, network effects, and the continued expansion of its consumer and franchise-driven ecosystem. The fund aims to partner with strong operating teams, acquire businesses with predictable cash‑flows, scalable platforms and well‑positioned brands, and drive long‑term value creation through operational improvement and growth initiatives. With approximately US$5 billion in commitments, the fund targets companies typically generating revenues from around US$20 million up to US$5 billion or more, and EBITDA from roughly US$10 million up to US$500 million or above. The principal geographic focus is North America, with select international franchise‑oriented opportunities, and sectors include restaurants, health & wellness, fitness, youth/education services, consumer products and business services.