Paul Charron, former chairman and chief executive officer of Liz Claiborne Inc., and Paul Tierney, who recently resigned from Claiborne's board, are teaming up for a new venture.
The two Claiborne alums are joining with John J. Ross 2nd, managing partner of banking firm Fidus Partners, to form an affiliate of Fidus that will make both mezzanine-level and full private equity investments in small- and mid-cap consumer firms, including fashion and retail.
The plans for the $250 million to $300 million fund are still being finalized, and Charron, who will divide his time equally between this venture and his senior adviser role at Warburg Pincus, said not to expect their first acquisition anytime too soon.
"It's a lousy market for doing buyouts, and it's very hard to borrow money to make investments of any magnitude given the macroeconomic situation," Charron said. "Right now we are laying the foundation: doing our homework, identifying potential investments, and letting people know we can be open for business."
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
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@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
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