GTCR Raises $3.6 Billion for Second Strategic Growth Fund

Private equity firm GTCR raised $3.6 billion for a second strategic growth fund, surpassing its $2.75 billion target and boosting its firepower for smaller buyouts, according to a statement reviewed by Bloomberg News.

Most of the funding, $3.35 billion, was raised from existing GTCR investors, including pension plans, insurance companies, endowments and sovereign wealth funds, the firm said in the statement. For the remainder, GTCR plans to plow in $225 million from its own coffers. Investments by the Strategic Growth Fund II are expected to range from $50 million to $250 million.

GTCR has been buying, overhauling and selling companies ...