GTCR Fund XV Hits $14.2B; Cook County Weighs PE Target Hike to 6%

GTCR Fund XV Hits $14.2B

Cook County Weighs PE Target Hike to 6%

GTCR is on pace to close the largest fund in its 46-year history, having raised $14.2B from 148 investors for GTCR Fund XV, already above its $13.5B target and the $11.5B hard cap of its predecessor.

In other GP fundraising, Advent International has so far raised $1.72B for Advent Global Technology III, six years after launching its first dedicated technology fund, while Pomona Capital has collected $2.36B for Pomona Capital XI toward a scaled-back $3B target. Consonance Capital Partners closed Consonance Private Equity III at its $1.35B hard cap after just under four months in market, and H.I.G. Capital is reportedly targeting about $2.6B for H.I.G. Infrastructure Partners II. Separately, Hg registered its first Orion-branded funds to anchor a dedicated GP-led secondaries strategy.

On the allocator side, the Cook County Annuity and Benefit Fund is weighing an increase in its private equity target to 6% from 5%, with consultant Callan recommending a faster commitment pace of $180M in 2027, rising to $220M by 2029. Elsewhere, the District of Columbia Retirement Board re-upped with two managers in July, committing $125M to Odyssey Investment Partners Fund VII and $150M to Fortress Investment Group’s Fortress Lending Fund V.

In other news, Paris, France-based GP stakes investor Armen completed a minority investment in London, UK-based private equity firm Freshstream, which manages about €2B ($2.2B). And on the platform side, Temasek’s Seviora Holdings plans to merge three wholly owned asset managers, Azalea Investment Management, SeaTown Holdings International and Seviora Capital, into a single operating platform by Jan. 1.