Sundheim’s D1 Seeks $1 Billion for New Private Equity Fund (1)

D1 Capital Partners aims to raise more than $1 billion for a new private equity fund as the hedge fund firm pushes deeper into illiquid investing.

The pool will be D1’s first traditional private equity fund, meaning it will open to new capital, have a hard close and then put the money to work, according to people familiar with the matter. The firm’s hedge fund invests client cash in public equities as well as private companies that sit in individual sleeves known as side-pockets. D1 manages $24.5 billion.

The final close for the PE fund is expected next ...