Leonard Green & Partners has held final closings of the firm’s eighth private equity fund, Green Equity Investors VIII LP (GEI VIII), with $12 billion of capital; and its inaugural dedicated middle-market fund, Jade Equity Investors LP (Jade), with $2.75 billion of capital. Both funds were oversubscribed and closed at their hard caps.
Leonard Green & Partners (LGP) is led by 15 partners including Managing Partners John Danhakl and Jonathan Sokoloff, and Senior Partners John Baumer and Jonathan Seiffer. In aggregate, the partners of LGP committed a total of $750 million to GEI VIII and Jade.
Leonard Green & Partners invests in service companies operating in the consumer, business, healthcare, retail, distribution, and industrial sectors. The Los Angeles-based firm was founded in 1989. LGP’s earlier fund, Green Equity Investors VII LP, closed in June 2016 with $9.6 billion of capital.
Investors in the new 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, a partner at LGP who leads the firm’s capital raising and investor relations efforts.
LGP did not use a placement agent on either GEI VIII or Jade, and Gibson, Dunn & Crutcher provided legal services.
© 2019 Private Equity Professional | December 9, 2019