Leonard Green raises $14.75bn

The Los Angeles-based firm closes two funds at their hard caps after about seven months in market.

Leonard Green & Partners held a final close of Green Equity Investors VIII with $12 billion and Jade Equity Investors with $2.75 billion in committed capital. Both funds were oversubscribed and reached their hard caps, with GEI VIII targeting $10 billion and Jade Equity targeting $2 billion.

Green Equity Investors VIII is the latest in Leonard Green’s flagship vehicle series, which invests in the consumer goods, healthcare, retail, business services and other sectors in North America, PEI data shows. The prior fund in this series, Green Equity Investors VII, closed in June 2016 with $9.6 billion.

Jade Equity Investors debuts a dedicated North American middle-market strategy.

Investors in the two funds include pensions, insurance companies, endowments, foundations, family offices, sovereign wealth funds and financial institutions across more than 20 countries, the firm said in a press release.

Gibson, Dunn & Crutcher LLP served as legal counsel on the fundraise.

LPs committed to Green Equity Investors VIII include:

LPs committed to Jade Equity Investors include: