Chicago-based private equity firm GTCR closed its 10th buyout fund with more than $3.25 billion in commitments. The fund represents the firm’s largest in its 30-year history and will target investments across financial services and technology, healthcare and information services and technology. The PE firm did not disclose its LPs in Tuesday’s announcement.
Leading Private Equity Firm Exceeds Target in Just Seven Months
CHICAGO–GTCR, one of the nation’s leading private equity firms today announced the final closing of its tenth buyout fund, with more than $3.25 billion of equity capital commitments.
“Fund X is the largest in our firm’s 30-year history, and one of our quickest to raise.”
The fund, which had a target of $3 billion, was oversubscribed, resulting in fundraising activity culminating just seven months after the fund’s initial launch.
“We are extremely pleased with the results of Fund X, especially in this challenging fundraising environment,” said Phil Canfield, GTCR Principal. “Fund X is the largest in our firm’s 30-year history, and one of our quickest to raise.”
Since 1980, GTCR has invested more than $8.5 billion in over 200 companies and has generated gross realizations of $15.5 billion. The firm currently has nearly $7 billion in assets under management.
Fund X will target investments in companies across high-growth sectors, including Financial Services & Technology, Healthcare and Information Services & Technology. Consistent with GTCR’s successful investment strategy, Fund X will seek to partner with management leaders with strong track records of equity value creation.
“We very much appreciate the support we received from existing as well as new investors,” added GTCR Principal David Donnini. “More than 80 percent of commitments to Fund X came from existing investors, with a large number increasing the size of their commitment versus prior funds. Of the ten largest investors in Fund X, more than half have been investing with GTCR since the 1980s. We attribute these long-term commitments to the strong relationships we’ve developed with our investors by maintaining consistency, transparency and disciplined investing. About half of our new commitments came from international limited partners, and we are pleased to be able to continue to grow this segment of our investor base.”
Investors in Fund X include public pension funds, endowments, foundations, fund of funds and individuals, including GTCR Principals as well as select executives and other friends of GTCR.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with exceptional leaders as the critical first step in identifying, acquiring and building market-leading companies. Since its inception, GTCR has invested more than $8.5 billion in more than 200 companies. For more information, please visit www.gtcr.com