Los Angeles, CA / New York, NY - October 15, 2014 -Freeman Spogli & Co. ("Freeman Spogli" or "FS"), a private equity firm specializing in the acquisition of middle market consumer-related and distribution businesses, announced today the final closing of its seventh private equity fund, FS Equity Partners VII, L.P., with $1.3 billion in commitments from its investors.
The Fund surpassed its $850 million target, closing at its maximum cap. "We were able to accomplish these results due to the strong support of our existing partners as well as the welcomed addition of a significant number of new participants. Over 70% of Fund VI's investors became limited partners in Fund VII, with total commitments increasing by 49% compared to Fund VI levels. The aggregate commitments of these historical partners accounted for approximately 55% of the total capital raised," said Ron Spogli, CEO at Freeman Spogli.
In total, Fund VII included commitments from 80 investors, an increase of over 50% from Fund VI levels. In addition, Freeman Spogli & Co., through its partners and principals, committed $104 million to Fund VII, or approximately 8% of aggregate commitments.
Lazard acted as lead placement agent and Triago acted as a placement agent for several European investors for Freeman Spogli, while O'Melveny & Myers served as legal counsel in the formation of FS Equity Partners VII.
About Freeman Spogli & Co.
Freeman Spogli & Co. is a private equity firm dedicated exclusively to investing in and partnering with management in consumer-related and distribution companies in the United States. Since its founding in 1983, Freeman Spogli & Co. has invested $3.3 billion in 50 portfolio companies with aggregate transaction value of over $19 billion, and is currently making investments from FS Equity Partners VII, L.P. Freeman Spogli & Co. has offices in Los Angeles and New York. For additional information, visit www.freemanspogli.com.