GTCR LLC, a private equity firm, has raised its largest fund ever, collecting $11.5 billion from investors. The milestone defies fundraising challenges private equity funds are facing due to investors avoiding risk and hoarding cash. The new fund, GTCR Fund XIV, initially aimed to raise $9.25 billion and amassed $11 billion from institutional investors, including from sovereign wealth funds, public and private pension funds, foundations and endowments. GTCR’s investments include U.S. vaccine reagent vendor Maravai Life Sciences Holdings, in-flight internet provider Gogo Inc, and ticketing company Vivid Seats Inc. In 2021, GTCR partnered with buyout firm Reverence Capital Partners to acquire the asset management business of Wells Fargo & Co for $2.1 billion. GTCR was founded in 1980 and has more than $35 billion in assets under management across business services, media, telecoms, healthcare, technology, financial and consumer services sectors.
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