Leonard Green & Partners amasses $14.75bn across two buyout funds


Los Angeles-based private equity firm Leonard Green & Partners has raised $14.75bn for the final close of two private equity funds.

LGP has raised $12bn to close its eighth flagship private equity fund, Green Equity Investors VIII. The firm also pulled in $2.75bn for its dedicated middle market fund, Jade Equity Investors.

LGP’s partners committed $750m of their own capital across the two funds.

The firm raised $9.1bn for its previous flagship vehicle three years ago, with an additional $500m coming from its partners.

Earlier this year the Maryland State Retirement & Pension System committed $100m to GEI VIII and $50m to its Jade fund, according to retirement system’s latest board meeting minutes.

Fund VIII also secured a $150m commitment from the Minnesota State Board of Investments.

“We are sincerely grateful to our longtime investors for their continued support and are pleased to welcome our new investors into the LGP community,” said LGP partner Erika Spitzer. 

“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.”

In April LGP agreed to buy US home maintenance and repair services company, The Wrench Group, from Investcorp.

The firm also sold its container manufacturing business Tank Holdings to Olympus Partners, which acquired the company for the second time.

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