Leonard Green & Partners closed two funds on a combined $14.75 billion after about seven months in the market. Green Equity Investors closed on $12 billion, while Jade Equity Investors, the firm’s debut mid-market fund, closed on $2.75 billion.
Leonard Green & Partners, L.P. (“LGP”) announces the final closings of the firm’s eighth flagship private equity investment fund, Green Equity Investors VIII, L.P. (“GEI VIII”), and its inaugural dedicated middle market fund, Jade Equity Investors, L.P. (“Jade”). LGP closed on $12 billion of committed capital for GEI VIII and $2.75 billion for Jade. Both funds were over-subscribed and closed at their respective hard caps.
The Partners of LGP committed a total of $750 million across the two funds. LGP is led by 15 Partners with average tenure of over 15 years, including Managing Partners John Danhakl and Jonathan Sokoloff and Senior Partners John Baumer and Jonathan Seiffer.
Investors in the LGP funds include public and corporate pensions, sovereign wealth funds, insurance companies, endowments, foundations, family offices, and financial institutions.
“We are sincerely grateful to our longtime investors for their continued support and are pleased to welcome our new investors into the LGP community. Our investor base represents a diverse group of institutions and their constituents globally, with limited partners in GEI VIII and Jade spanning over 20 countries,” said Erika Spitzer, Partner, who leads LGP’s capital raising and investor relations efforts.
Gibson, Dunn & Crutcher LLP served as fund counsel. LGP did not engage any intermediaries in the raising of the fund. LGP’s prior fund, GEI VII, closed in 2016 with committed capital of $9.6 billion.
Founded in 1989 and based in Los Angeles, LGP partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 90 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. LGP primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail, distribution, and industrials. For more information, please visit www.leonardgreen.com.