Madison Dearborn on Fundraising Trail for $4B Fund VII?
October 09, 2014
Madison Dearborn Partners has reportedly begun fundraising for its seventh flagship fund, which is believed to have a $4 billion target when including the firm’s own commitment. Fund VII would be fractionally smaller than its predecessor, a $4.1 billion vehicle that closed in 2010 below its $10 billion target (18.5% IRR as of June 30). According to peHUB, which cited unnamed LP sources, the current fundraising could take a while due to uncertainty stemming from the performance of Madison Dearborn’s crisis-affected Fund V, which has nevertheless achieved several exits, notably TIAA-CREF's acquisition of Nuveen Investments (reported at $6.25 billion).