After only seven months of fundraising, GTCR has closed its tenth buyout fund on more than $3.25 billion of committed capital, exceeding its $3 billion target. The firm secured $2.75 billion for the fund's vintage 2006 predecessor, GTCR Fund IX. Fund X will target investments in companies across high-growth sectors, including Financial Services & Technology, Healthcare and Information Services & Technology.
Less than two months into the year, U.S. investors have already held final closes on 16 PE funds, collectively securing over $17 billion of committed capital, according to the PitchBook Platform. While the number of funds closed lags slightly behind the 18 by this time last year, the total amount raised represents a significant increase over the $10.7 billion secured by those 18 funds. Just a few days after ringing in the New Year, Stone Point Capital announced the final closing of its Trident V fund on $3.5 billion, and later during the same month, another $3.5 billion PE fund was closed, this time by EnCap Investments. And the billion dollar fund closes have kept coming. In addition to the closing of GTCR's tenth fund, February also recently witnessed a $2 billion fund close by The Gores Group. The question remains, however, whether these will be followed by other successful capital raises in 2011 as investors try to overcome a difficult fundraising environment.