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Private Equity

GTCR closes 12th buyout fund at $5.25 billion

A closed sign hanging in a shop window

Private equity manager GTCR announced Wednesday that it has closed its GTCR Fund XII at $5.25 billion, a news release said.

The buyout fund, which exceeded its $4.5 billion target and hit its hard cap five months after its May 2017 launch, focuses on middle-market buyout investments in high-growth companies in North America.

GTCR closed its previous buyout fund, GTCR Fund XI, at $3.85 billion, exceeding its $3.25 billion target, in 2014.

Investors in the current fund include the $67 billion Massachusetts Pension Reserves Investment Management Board, Boston, $27.8 billion Texas County & District Retirement System, Austin, $27.6 billion Pennsylvania State Employees' Retirement System, Harrisburg, $26 billion Texas Municipal Retirement System, Austin, $15.1 billion Ohio Police & Fire Pension Fund, Columbus, $13.6 billion Maine Public Employees Retirement System, Augusta, and $10.7 billion Louisiana State Employees' Retirement System, Baton Rouge.

A spokeswoman declined to provide further information.