A big investor that backs J Crew and Shake Shack just crushed it with a huge fundraising round

Leonard G&L

(Kevork Djansezian/ Reuters)
John Danhakl, Managing Partner, Leonard Green

Leonard Green & Partners raised nearly $10 billion in its latest round of funding.

The Los Angeles-based private equity firm exceeded its target with $9.1 billion from third-party investors and $500 million from the firm's partners, according to a press release Monday.

That amount is almost 54% bigger than its previous private equity investment fund in 2012.

"We are excited that our investor base has continued to expand globally, with limited partners in GEI VII spanning 18 countries,” said Erika Spitzer, principal and head of investor relations at Leonard. "Investors in GEI VII include a diverse group of pension funds, sovereign wealth funds, insurance companies, foundations, endowments, family offices, and financial institutions."

Leonard, which backs companies such as Shake Shack and J Crew, will invest that money in the consumer, retail and healthcare sectors, according to the release. The private equity firm's investments range from traditional buyouts to corporate carveouts involving the sale of a particular business unit.

The new $9.6 billion fund at Leonard compares with Blackstone's $18 billion global fund and KKR's $11 billion fund. Meanwhile, TPG raised $10.5 billion in its latest round of funding.

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