Clayton Dubilier & Rice has closed its 10th flagship fund on a $9.4 billion hard cap, per PE Hub, in what marks the New York-based firm’s largest vehicle to date. The heavily oversubscribed fund exceeded a reported $8.5 target and easily surpassed its predecessor, which closed on $6.4 billion in 2013.
Why the increase in capital? Perhaps it has something to do with the 23.9% IRR registered by CD&R's Fund IX as of the end of 4Q, which ranks in the top quartile of its benchmark, according to the PitchBook Platform. The vehicle before that has performed even better, logging a 27% IRR as of the end of 3Q.
Want a more detailed look at CD&R’s fund performance? PitchBook users can find that info right here.