Leonard Green & Partners closed its seventh private equity fund, Green Equity Investors VII, at $9.6 billion, exceeding its fundraising target, said a news release.
The fund closed at its $9.1 billion hard cap for third-party commitments. Firm partners committed an additional $500 million.
The new fund is 54% larger than Leonard Green’s prior private equity fund, the $6.25 billion Green Equity Investors VI, which closed in 2012.
Investors in the latest fund include $22 billion Nebraska Investment Council, Lincoln; $20.2 billion New Mexico State Investment Council, Santa Fe; $15 billion Kentucky Retirement Systems, Frankfort; and $2.2 billion Oklahoma Police Pension & Retirement System, Oklahoma City.