Leonard Green & Partners LP has closed a $3.6 billion investment vehicle aimed squarely at the fast-expanding market for single-asset continuation funds, blowing past its initial target and underscoring investor appetite for flexible private equity solutions.
New Platform Exceeds Expectations
The private equity firm said Monday that its newly launched program, Sage Equity Investors, amassed $3.6 billion in commitments—more than double its original $1.5 billion goal. The fund is designed to invest in single-asset continuation vehicles sponsored by third-party private equity managers.
Leonard Green, advised by Kirkland & Ellis LLP, said Sage Equity was built to capitalize on the growing demand for continuation funds, offering capital tailored to high-quality assets while working closely with sponsors and management teams.
Betting on a Maturing Market
David Fox, co-head of the Sage fund, said the single-asset continuation fund space has evolved into a critical pillar of private equity.
“The single-asset continuation fund market continues to grow in its size, sophistication, and importance,” Fox said. He added that Sage was “purpose-built to provide speed, certainty and scale to leading sponsors,” with a deep pipeline of future opportunities ahead.
