GTCR, a private equity firm focused on the technology, healthcare, financial, and consumer services sectors, has held the final closing of closing of GTCR Fund XIV with aggregate commitments of $11.5 billion, exceeding its initial target of $9.25 billion.
GTCR, a private equity firm focused on the technology, healthcare, financial, and consumer services sectors, has held the final closing of closing of GTCR Fund XIV (Fund XIV) with aggregate commitments of $11.5 billion, exceeding its initial target of $9.25 billion.
The fund includes total limited partner commitments of $11.0 billion and a commitment from GTCR of approximately $500 million. The predecessor fund, GTCR Fund XIII, was raised and initiated in 2020 with aggregate commitments of approximately $7.9 billion.
That fund generated a net internal rate of return (IRR) of nearly 194% as of December last year, according to data from investor the Alaska Retirement Management Board (ARMB).
The new fund received strong support from limited partners in prior GTCR funds, many of whom have invested with the firm for decades, as well as several new investors. The diverse Fund XIV investor base includes leading global endowments and foundations, public and corporate pension plans, sovereign wealth funds, financial institutions and private wealth.
Kirkland & Ellis served as legal advisor to GTCR.
