Crosslake closes a single-asset continuation vehicle led by Leonard Green & Partners' Sage Fund. The vehicle provides liquidity to certain existing investors and adds capital for future acquisitions.
Leonard Green & Partners announced the final closing of Sage Equity Investors, L.P., with more than $3.6 billion in commitments. The inaugural fund exceeded its $1.5 billion target and focuses primarily on single-asset continuation funds sponsored by third-party private equity managers.
Topgolf Callaway Brands sold a 60% stake in its Topgolf and Toptracer businesses to funds managed by Leonard Green & Partners. The transaction values Topgolf at approximately $1.1 billion.
Leonard Green & Partners will acquire a majority interest in Crunch Holdings from TPG Growth and Crunch’s minority shareholders, becoming the company’s majority owner. Crunch operates more than 500 gyms worldwide and serves over three million members across its fitness network.