Freeman Spogli raises $1.3 bln for seventh fund


Freeman Spogli has closed its seventh private equity fund at a maximum cap of $1.3 billion, beating its $850 million target.

Fund VII snagged funding commitments from 80 LPs. According to the firm, this is an increase of over 50 percent from its previous fund.

Also, partners and principals at Freeman Spogli have committed $104 million to Fund VII.

Lazard and Triago were placement agents for several European investors for Freeman Spogli.

In May 2011, Freeman Spogli closed its sixth fund at $730 million, falling short of its $1 billion target. FS Equity Partners VI generated an average net IRR of 15.30% and an average net multiple at 1.40 x, according to Bison data as of March 31, 2014.

Freeman Spogli invests in middle-market firms in the consumer and distribution sectors.

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