Beauty veteran Pamela Baxter is joining MidOcean Partners as an operating partner.

Baxter will help MidOcean, an asset manager that specializes in private equity and alternative credit investments, accelerate its growth strategy in the beauty, personal care, health and wellness sectors. Right now the firm has two beauty investments, BH Cosmetics and Image Skin Care.

“She’s got a great eye for brands, and when you pick emerging brands, which ones are going to be the winners versus the losers, which have the right potential — she can really help us think through that,” Jonathan Marlow, managing director at MidOcean, said. Baxter will also work with MidOcean on portfolio brand strategies.

“Hopefully this shows people we want to continue to do more and have the resources to help do that, and Pamela can really help add a lot of value not only to existing companies but help us find new brands to invest in and help those brands once we are investors in them,” he added.

MidOcean is looking to invest broadly across the beauty space, from makeup, hair and skin care through to manufacturing and devices. “They’re interested in everything from contract manufacturing to ingredients to sustainable packaging — it runs the gamut,” Baxter said, adding that she liked the firm’s longer-term approach to investing. “It’s not just buy it, flip it and move on — that’s not how they think,” Baxter said.

Most recently, Baxter cofounded incubator Bona Fide Beauty Lab, where she serves as chief executive officer. There, she launched the Pop Sugar beauty line, and provides funding and mentorship to emerging, female-led beauty businesses.

“It’s no secret that women do have a more difficult time getting funding,” Baxter said, noting that her new seat at the private equity table will allow her to help shape MidOcean’s investment strategy.

“The younger consumer coming up I see being much more demanding of companies and their values system is changing rapidly. Being able to explore, OK yes, you can be in the beauty business, but you can also be responsible and sustainable and protecting the planet…it’s a whole new world out there,” Baxter said. “I’ve got a page of sustainable [brands], I’ve got a page of Black-owned, female-founder led businesses — we’re going to discuss all of that.”

Before cofounding Bona Fide, Baxter was president and ceo of beauty brands at LVMH North America, where she oversaw Dior, Guerlain, Givenchy, Acqua di Parma and Fresh for the U.S. and Canada, as well as Dior Couture in North America. Prior to joining LVMH, she spent more than 20 years at the Estée Lauder Cos., with different marketing, sales, product development and distribution roles across Tommy Hilfiger fragrances, La Mer, Jo Malone and Prescriptives.

Baxter is currently a board member for Cosmetic Executive Women, the FIT Foundation and FIT Student Advisory Board. She also serves as a mentor with the Sephora Accelerate Program and Entrepreneurs Roundtable Accelerator program.