THE WHAT? Advent International has announced that it has hired Janet Gurwitch, Founder and Former CEO of Laura Mercier, as Operating Partner, focused on the beauty and wellness sectors.
THE DETAILS Gurwitch will work closely with Advent’s Retail, Consumer and Leisure team to identify and evaluate new investment opportunities as well as serve on the Board of Directors for Advent’s recently acquired Olaplex.
“We are incredibly pleased to welcome Janet to Advent as an Operating Partner,” said Tricia Glynn, a Managing Director at Advent. “She has been involved in developing some of the most successful beauty and personal care brands of the last decade, and her appointment is timely with the momentum of our beauty and wellness investing practice. We believe in the beauty industry’s resilience and ability to bring joy to consumers, and look forward to continuing to help growth brands in this sector reach scale domestically and internationally.”
THE WHY? The private equity firm has invested US$12.8 billion in the retail, consumer and leisure sector over the past 30 years and Gurwitch’s appointment suggests beauty will be a key focus for future funds.