Leonard Green & Partners closes $9.6B fund, one of the biggest of 2016
June 07, 2016
Leonard Green & Partners announced late Monday that it has completed fundraising for Green Equity Investors VII, one of the largest buyout vehicles of the year. The fund hit its upwardly-revised hard cap of $9.1 billion—after initially targeting $7.5 billion—and received a $500 million commitment from LGP partners.
Sectors of focus for GEI VII include consumer/retail, healthcare/wellness, business/consumer services, and distribution. The vehicle is 54% larger than its predecessor, which closed on $6.25 billion in 2012 and is generating a 12.31% IRR as of 4Q 2015.
GEI VII marks the third-largest buyout fund closed this year, following Advent Global Private Equity VIII ($13B) and TPG Partners VII ($10.5B).