Ninth GTCR fund closes on $2.75bn

GTCR will invest its ninth and largest fund using the firm’s manager-focused strategy.

GTCR has announced the final closing of GTCR Fund IX with $2.75 billion (€2.2 billion) in commitments. The fund is the firm’s ninth and its largest to date.

The fund will invest in a range of high-growth industries including business services, consumer products and services, healthcare, technology and transaction processing.

The firm initially planned to raise $2.25 billion, but ended up capping at a quarter more than it had originally envisioned. GTCR manages more than $8 billion in capital and has invested in 150 companies over the last 25 years, of which 33 have become public companies. Some of its more prominent holdings include Prestige Brands Holdings and Triad Financial Corp, the former subprime lending group of Ford Motor Company.

The firm, which tends to partner with strong managers and give them a great deal of authority, have already struck several deals this year including forming a new venture with Bank of New York and buying a business from Bank of America. In February the firm made its first acquisition for its platform company Solera, and in January GTCR launched a joint venture with Martha Stewart Living Omnimedia.