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Mirabaud appoints Nouri as partner, plans new Lifestyle fund

Chabi Nouri of Mirabaud Asset Management — Chabi Nouri, Mirabaud Asset Management

Harriet Matthews
24 March 2022

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Mirabaud Asset Management has appointed luxury and consumer industry expert Chabi Nouri as private equity partner; she will co-manage the GP's Lifestyle strategy, which expects to launch a second vintage later in 2022.

Nouri will head Mirabaud’s Lifestyle Private Equity strategy alongside fellow private equity partner David Wertheimer, who joined the firm in 2018.

In her new role, Nouri will focus on studying future investments and identifying companies with high long-term growth and profitability potential, Mirabaud said in a statement.

Nouri has almost 25 years' experience in the consumer and luxury goods sector. She held various roles at jewellery firm Cartier from 1998, followed by six years with British American Tobacco (BAT). Prior to joining Mirabaud, Nouri was president and CEO of watch and jewellery company Piaget.

According to the same statement, Mirabaud plans to launch a second fund in its lifestyle strategy later in 2022, following the final close of the strategy’s debut fund. Mirabaud Lifestyle and Impact Fund was launched in January 2020, as reported. The vehicle held a first close in December 2020 on EUR 56m against a EUR 200m target.

Mirabaud’s Lifestyle strategy focuses on businesses that are revolutionising lifestyle, focusing on technology and digitalisation. The GP said in the same statement that the strategy has made 11 investments to date in Europe, the US and Asia. According to Unquote Data, the strategy takes both majority and minority stakes, generally investing EUR 10m-20m per company and targeting B2C businesses and brands in the lifestyle sector, alongside B2B companies dedicated to the consumer sector.

Switzerland-headquartered Mirabaud also manages Mirabaud Private Equity Fund, which held a final close in December 2018 on EUR 150m. The fund invests in European "living heritage" businesses that have existed for at least 50 years, mainly targeting luxury consumer businesses in France. The strategy is headed by chairman Renaud Dutreil, former French minister of small and medium-sized businesses and former chair of LVMH North America.