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GTCR raises $3.85bn for seventh buyout fund

28 Jan 2014

chicago 3_sqPrivate equity firm GTCR has held a final close of $3.85bn for its seventh buyout fund after only seven month on the road.

GTCR Fund XI was oversubscribed and comfortably exceeded its $3.25bn target.

The fund will focus on investing in companies across high-growth sectors, including financial services and technology, healthcare and IT, the Chicago-based firm said in a statement.

Back in November AltAssets reported that GTCR was a whisker away from its target, having secured nearly $3.24bn.

LPs that backed the fund include the Texas County & District Retirement System (TCDR), the Maine Public Employees Retirement System (MainePERS) and the Ohio Police & Fire Pension Fund.

Since its launch in 1980 GTCR has invested more than $10bn in over 200 companies and currently has $11bn in assets under management.

GTCR managing director Phil Canfield said, “The firm is gratified by the strong support we received from existing and new investors for Fund XI.

“This is our largest fund to date and the successful close further supports our investment strategy, which we have pursued for more than 30 years.”

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