Leonard Green & Partners LP said June 6 that it closed its seventh private equity investment fund with $9.6 billion of committed capital. Green Equity Investors VII LP exceeded its $9.1 billion target and hard cap. Leonard Green partners also committed $500 million to Fund GEI VII. Leonard Green’s prior fund, GEI VI, closed in 2012 with committed capital of $6.25 billion. Gibson, Dunn & Crutcher LLP served as fund counsel.
June 06, 2016 07:12 PM Eastern Daylight Time
LOS ANGELES–(BUSINESS WIRE)–Leonard Green & Partners, L.P. (“LGP”) announced today the closing of the firm’s seventh private equity investment fund, Green Equity Investors VII, L.P. (“GEI VII”), with committed capital of $9.6 billion. GEI VII exceeded its target and closed at its hard cap of $9.1 billion in third-party investor commitments along with a $500 million commitment from the Partners of the firm.
Founded in 1989 and based in Los Angeles, LGP’s philosophy is to invest in market-leading companies with defensible competitive positions, attractive growth prospects, and proven management teams. LGP’s investments have taken the form of traditional buyouts, going-private transactions, recapitalizations, growth capital investments, corporate carve-outs, and selective public equity and debt positions. Consistent with prior funds, sectors of focus for GEI VII include consumer/retail, healthcare/wellness, business/consumer services, and distribution. The investment activities of LGP are led by twelve partners, including Managing Partners John Danhakl and Jonathan Sokoloff and Senior Partners John Baumer and Jonathan Seiffer.
“We are excited that our investor base has continued to expand globally, with limited partners in GEI VII spanning 18 countries. Investors in GEI VII include a diverse group of pension funds, sovereign wealth funds, insurance companies, foundations, endowments, family offices, and financial institutions,” said Erika Spitzer, Principal and Head of Investor Relations.
“We sincerely thank our longtime investors for their continued support and are pleased to welcome our new investors into the LGP community. All of us at LGP are grateful for the opportunity to invest the capital entrusted to our firm and look forward to our partnership in GEI VII,” said the firm’s Managing Partners.
Gibson, Dunn & Crutcher LLP served as fund counsel. LGP engaged no intermediaries in the raising of the fund. LGP’s prior fund, GEI VI, closed in 2012 with committed capital of $6.25 billion.