GTCR closed its latest fund, Strategic Growth Fund II (SGF II), at $3.6bn, significantly exceeding its $2.75bn target. 

The oversubscribed fund follows Strategic Growth Fund I, which closed in 2022 with $2.2bn in commitments.

SGF II secured $3.35bn from existing limited partners, including pension plans, endowments, sovereign wealth funds, insurance firms, and family offices, with an additional $225m commitment from GTCR itself.

The fund follows GTCR’s Leaders Strategy, focusing on middle- and lower-middle market investments with equity commitments between $50m and $250m. SGF II will target business and consumer services, financial services and technology, healthcare, and technology, media, and telecommunications.

We are fortunate to have long-term partnerships with our limited partners, many of whom have supported GTCR for decades, said Jodi Rubenstein, managing director and head of investor relations. SGF II will allow us to continue our disciplined approach of building and transforming businesses.

GTCR co-CEOs Dean Mihas and Collin Roche emphasized the firm’s commitment to growth-oriented, value-added investments, leveraging its deep industry expertise and executive networks to identify transformational opportunities, including corporate carve-outs, mergers, founder succession, and acquisitions.

Kirkland & Ellis served as legal advisor on the transaction.