Bloomberg reported last week that Leonard Green & Partners had secured $5.8 billion in limited partner commitments for its sixth buyout fund, and that the total would push beyond $6 billion with the GP commit.
My understanding is that the information is accurate (the GP commit is $250 million), except that Leonard Green still is seeking to hit its $6 billion hard cap from outside investors. In other words, the total could be $6.25 billion when all is said and signed.
The Los Angeles-based firm was only targeting $5 billion.
Leonard Green invests in a variety of industries, but has become best-known for retail deals like BJ’s Wholesale Clubs, J. Crew, The Sports Authority and Whole Foods Markets (WFM).
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