Private equity firm Leonard Green & Partners is nearing a final close for two funds for which it has amassed $18.3 billion, according to a person with knowledge of the matter.
The Los Angeles-based buyout specialist raised $14.7 billion for its ninth flagship fund, Green Equity Investors IX LP, and $3.6 billion for Jade Equity Investors II LP, which is earmarked for smaller transactions, said the person, asking not to be identified discussing the effort. Investors in the funds include the New York State Common Retirement Fund and the Los Angeles County Employees Retirement Association, according to data compiled by Bloomberg.
The firm, which in 2017 sold a minority stake to Blackstone Inc., has joined peers including Apollo Global Management Inc., KKR & Co. and TPG Inc. in an initiative known as Ownership Works that aims to facilitate wealth creation through employee ownership.
Read more: BNN Bloomberg
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