Leonard Green: The name lives on

Leonard Green, who founded LA’s biggest buyout shop in 1989, died unexpectedly on October 25 in Italy, during surgery after a heart attack while vacationing.

He was 68. Green spent the past year fighting a very public -- and very bitter -- divorce, which along with his sudden death provided a tragic ending to what had been a very successful career in investments. Green’s business legacy, however, will survive. In fact, last month Leonard Green & Partners was on track to close its fourth fund, worth $1.8 billion, by the end of the year. Green, who served in a reduced advisory capacity this year, would not have had an active role in the new fund, although he would have advised on earlier funds. “The business goes on. The firm goes on,” says Jonathan Sokoloff, a managing director at Leonard Green & Partners. “We had prepared for Leonard being less active.” Sokoloff adds that the firm’s name will remain the same.

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