Leonard Green & Partners has closed its fifth buyout fund, tapping U.S. and foreign investors to raise more than $5.3 billion, the Los Angeles private equity firm said Thursday.

The fund is more than three times as big as the firm's most recent fund, which was raised five years ago and accessed to invest in Petco Animal Supplies Inc. and Neiman Marcus Group Inc. among other companies.

Leonard Green, founded in 1989, has invested in 42 different companies. The firm specializes in retail investments with a value between $500 million and $2 billion.

John Danhakl, Peter Nolan and Jonathan Sokoloff are the firm's managing partners.

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