Managing partner of Leonard Green & Partners Peter Nolan has decided to step back from his role.
The Los Angeles-based private equity firm said that Nolan will serve as a senior advisor effective May 1 this year, which will enable him to dedicate more time to his philanthropic and other interests.
Nolan will maintain an office at Leonard Green and will continue to serve on the boards of several portfolio companies.
Leonard Green managing partner John Danhakl said, “Peter has been a trusted friend and a colleague for 28 years, and in his capacity as a Senior Advisor, we will continue to benefit from Peter’s wisdom, experience and stature in the business community.”
Since its launch in 1989 Leonard Green has invested in 70 companies valued at $74bn.
In December the firm bought Lucky Brand Jeans from Fifth & Pacific Companies in a $225m deal.
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