Certares Eyes at Least $5 Billion for New Private Equity Fund

Certares Management, an investment firm led by Hertz Global Holdings Inc. Chairman Greg O’Hara and dedicated to the travel, tourism and hospitality industries, is seeking capital for a new private equity fund, according to people with knowledge of the matter.

Certares is aiming to raise $5 billion to $6 billion for the vehicle, Certares Holdings II LP, and may hold a so-called first close at $1 billion to $2 billion as soon as next month, some of the people said. The New York-based firm is discussing the fund with institutional investors, said the people, who asked not to be ...