Firm: Freeman Spogli & Co.
Fund: FS Equity Partners VI LP
Target: $1 billion
Placement Agent: None
The Los Angeles-based buyout shop is targeting $1 billion for the fund, though the source conceded “it’s a tough environment” for fundraising right now. The target appears to have come down somewhat, as Buyouts reported in March that the target was $1.75 billion. Freeman Spogli raised $1 billion for its previous fund in 2004.
The firm, which also has an office in New York, is not using a placement agent to help it raise the fund.
Freeman Spogli targets deals in the retail, direct marketing, distribution, and consumer products sectors. The firm has invested more than $2.7 billion in 44 companies since its founding in 1983, according to its web site.
The latest fund,
Freeman Spogli’s most recent exit could help it juice momentum for the fund. On Nov. 3, it agreed to sell Smile Brands Group Inc., an Irvine, Calif.-based company that provides support services to dental groups, to
The firm’s most recent acquisition came in July, when it bought Brooks Equipment Co., a Charlotte, N.C.-based marketer and distributor of fire protection and prevention equipment, from