Private equity firm Leonard Green & Partners LP is raising nearly $12 billion across two buyout funds, Private Equity International reported.
The firm's flagship Green Equity Investors VIII fund is seeking $10 billion of commitments and has secured $50 million from Teachers' Retirement System of Louisiana, according to documents for the pension fund's Oct. 3 board meeting, the report said.
The documents also showed that the pension fund committed $25 million to Leonard Green's first midmarket vehicle, Jade Equity Investors, which is raising $2 billion.
Green Equity Investors VII will invest between $400 million and $1 billion in enterprises valued at between $600 million and $2.5 billion in the consumer/retail, business services and healthcare and wellness sectors.
Jade Equity will targeting businesses with an enterprise value of between $50 million and $250 million. It will invest between $150 million and $600 million, according to the Oct. 7 report. It will follow Green Equity's strategies.
Los Angeles-based Leonard Green plans to use a line of credit in both funds, the documents showed.
Leonard Green did not return Private Equity International's requests for comment.