Leonard I. Green
| Leonard I. Green | |
|---|---|
| Born |
1934 United States |
| Died |
2002 (age 68) Venice, Italy |
| Nationality |
 United States |
| Ethnicity | Jewish |
| Education |
B.A. Cornell University M.B.A. University of Pennsylvania J.D. Loyola University (Chicago) |
| Occupation | businessman |
| Known for | founder of leveraged buyout firm Leonard Green & Partners |
| Spouse(s) |
Spouse1 Spouse2 (divorced) Jude Risk Green (divorced) |
| Children |
Suzanne Green Steven Greene |
Leonard I. Green (1934–2002) was the founding partner of leveraged buyout firm Leonard Green & Partners and chairman of the board of the Los Angeles Opera.
Biography
Green was raised in Philadelphia. In 1955, he earned a B.A. in economics from Cornell University and in 1956, graduated with an M.B.A. from the University of Pennsylvania's Wharton Graduate School.[1] In 1965, he received a law degree from Loyola University in Chicago. In 1969, Green co-founded the New York investment banking partnership, Gibbons, Green, van Amerongen, which specialized in management-led, non-hostile leveraged buyouts.[1] In 1980, he moved to California and opened a branch office. In 1989, he left Gibbons, Green, van Amerongen and founded Leonard Green & Partners based in Los Angeles.[1] In 1992, Green's firm paid $40 million for Thrifty Drugs and in 1994, they purchased Payless Drugs for $1.2 billion, merging the two companies to form the largest drugstore chain in the Western U.S. with more than 1,080 outlets, Thrifty Payless.[2] In April 1996, Thrifty Payless went public and the in October 1996, it was sold to Rite Aid for $2.3 billion netting Green's firm a $420 million profit.[2] Other companies that the firm acquired while Green was chairman were Carr-Gottstein Foods Co., Australian Resources Limited, and Big 5 Sporting Goods.[3]
Philanthropy
In 1986, Green became a founding director of Los Angeles Opera serving as its president and chief executive from 1998 to 2001. He personally donated $2 million to the opera and was credited with recruiting Plácido Domingo as artistic director.[1] Green was also a member of the board of the Music Center of Los Angeles County.[1]
Personal life
Green was married three times.[1] In 1995, Green married his third wife, Jude Green, a physical therapist from Michigan; they divorced in 2000.[4] Green has two children: daughter Suzanne and son Steven.[1]
References
- 1 2 3 4 5 6 7 Los Angeles Times: "Leonard I. Green, 68; L.A. Opera Chief, Master of Friendly Takeover" by Dennis McLellan October 26, 2002
- 1 2 Los Angeles Times: "Financier's Dealings Disclosed" by RALPH FRAMMOLINO January 21, 2002
- ↑ Jewish Journal: "Leonard Green - Investment Banking Pioneer and L.A. Opera Chairman" October 31, 2002
- ↑ Los Angeles Times: "Divorce, Pellicano-Style" by Kim Christensen
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