GTCR closed GTCR Fund XI with $3.85 billion, more than the buyout fund's $3.25 billion target, confirmed Kellie Kennedy, a spokeswoman for GTCR.
GTCR executives started raising the fund in June. It is larger than the private equity firm's 10th fund, which raised $3.25 billion in total committed capital. The new fund will invest in companies in high-growth sectors including financial services, health care and information services.
Investors in the fund include the $20.8 billion Texas County & District Retirement System, Austin; $13.7 billion Ohio Police & Fire Pension Fund, Columbus; $18,7 billion San Francisco City & County Employees' Retirement System; $94.6 billion Washington State Investment Board, Olympia; $12 billion Maine Public Employees Retirement System, Augusta; and $25.7 billion Pennsylvania State Employees' Retirement System, Harrisburg.
