L Catterton boss sells Palm Beach home for $58M

Michael Chu sold the home he his wife built in Palm Beach 10 years ago for $58.3 million.  He and his wife Elizabeth Chu sold that house in an off-market deal that recorded this week. Records show they sold the oceanfront house at 102 Angler Avenue to a trust named for the address and managed by attorney Sarah T. Connolly. Michael Chu is the executive chairman and co-founder of L Catterton, the largest consumer-focused private equity firm in the world, according to its website. It has $37 billion in assets under management.  The Chus acquired the 0.60-acre property for $1 […]This article originally appeared on The Real Deal. Click here to read the full story.