Leading private equity firm GTCR recently announced the closing of GTCR Fund XIV with aggregate commitments of $11.5 billion. This fund – which had an initial target of $9.25 billion – reached its hard cap. The fund also includes total limited partner commitments of $11 billion and a commitment from GTCR of approximately $500 million. The predecessor fund GTCR Fund XIII was raised and initiated in 2020 with aggregate commitments of approximately $7.9 billion.
The Fund had received strong support from limited partners in prior GTCR funds, many of whom have invested with the firm for decades, as well as several new investors. The diverse Fund XIV investor base includes leading global endowments and foundations, public and corporate pension plans, sovereign wealth funds, financial institutions and private wealth.
Consistent with GTCR’s investment approach known as The Leaders Strategy, Fund XIV will expand the firm’s capacity to partner with exceptional management leaders who have strong track records of value creation to identify, acquire and build market-leading companies in its core industry domains of Healthcare, Technology, Media & Telecom, Business & Consumer Services and Financial Services & Technology. And GTCR’s investment approach emphasizes transformational growth to build better businesses with a long-term orientation.
KEY QUOTES:
“We appreciate tremendously the support from our limited partners. That support is invaluable to us in working with our management partners to build great businesses through transformational growth and add-on acquisitions. This committed equity capital of Fund XIV positions GTCR and its investment teams with the resources to invest through periods of uncertainty and varied economic conditions.”
“For over four decades, GTCR’s approach has been to build deep domain expertise and broad executive relationships in our core industries. This approach enables us to partner with and support high caliber, experienced management leaders in pursuing opportunities for transformation, including corporate carve-outs, transformational mergers and growth through acquisition strategies. We also continue to build GTCR’s organization, growing our team, increasing our sourcing efforts and enhancing our ability to support management teams as they grow their businesses. We believe that our differentiated strategy, our high-quality and experienced team, and our committed capital resources position us to capitalize on unique opportunities in the current environment.”
— Dean Mihas and Collin Roche, Co-CEOs of GTCR
“We are grateful for the confidence that GTCR’s limited partners have demonstrated in our team and in our strategy. We are focused on providing consistent, outstanding returns for our investors across economic environments, with a continued focus on alignment and transparency.”
— Jodi Rubenstein, Managing Director and Head of Investor Relations
