GTCR has hit a $2bn final close for its first fund dedicated to growth deals too small for its $7.5bn flagship fund.
The firm said the Strategic Growth Fund was raised in just five months from investors in its prior funds.
GTCR powered to a $7.5bn target-beating final close for its thirteenth flagship buyout fund in 2020, well above the $5.25bn it collected for Fund XII in 2017.
AltAssets revealed in November that the firm had already beaten its $1.5bn goal for its Strategic Growth Fund, having registered just over $1.6bn with the US SEC.
GTCR managing director Sean Cunningham said, “The creation of the Strategic Growth Fund marks an important milestone for GTCR.
“This significant fund allows us to maintain our long-term focus on investing behind excellent management teams in this segment of the market, consistent with our proven investment strategy and track record.”
The firm said investments from the new fund will range from about $50m to $200m of equity over time, focused on financial services and technology, growth business services, healthcare and TMT.
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Source: https://www.altassets.net/private-equity-news/by-pe-sector/buyout/100183336.html
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