GTCR has announced the final closing of its tenth buyout fund, with more than USD3.25 billion of equity capital commitments.
The fund, which had a target of USD3 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,” says Phil Canfield (pictured), 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 USD8.5 billion in over 200 companies and has generated gross realisations of USD15.5 billion. The firm currently has nearly USD7 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,” says GTCR Principal David Donnini. “More than 80 per cent 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.
