Clayton Dubilier & Rice, a NYC-based private equity firm, is well on its way to raising its largest buyout fund to date.

The buyout firm in a regulatory filing indicated it had raised around $12 billion as of Sept. 1 for Clayton Dubilier & Rice Fund XI LP, which ranks the new fund as the firm’s largest to date. The filing didn’t indicate whether the amount raised so far represents a final closing or whether it includes money committed by Clayton Dubilier itself. 

Based on USD 13bn target size, the Fund, which is CD&R’s largest-ever to date, has achieved over 92% of the fundraising goal. 

With the first sale in April this year, the Fund has received commitments from over 300 limited partners (LPs).

The California Public Employees’ Retirement System (CalPERS), one of the anchor investors of the Fund, commited USD 500mn.

In May this year, AnalyzeMarkets reported that CD&R had raised USD 10bn in total equity commitments.

Previously, CD&R had raised USD 10bn for Fund X at final close in 2017 and collected USD 6.25bn in total LPs commitments for Fund IX, in 2014, according to AnalyzeMarkets Global Funds Data.

Established in 1978, CD&R is considered as one of the oldest private equity firms in the world. It has managed the investment of more than USD 30bn in 93 companies with an aggregate transaction value of circa USD 140bn, since its inception.

Last month, AnalyzeMarkets reported that CD&R announced to acquire Epicor Software Corp, an Austin, Texas-based industry-specific software solutions provider, from KKR & Co Inc, in a transaction valued at USD 4.7bn.

CD&R announced to acquire the Construction & Industrial business (White Cap) of HD Supply Holdings Inc, for USD 2.9bn, in August 2020.

Source: Wall Street Journal 

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