GTCR said to be raising its largest buyout fund to date

Chicago-based private equity firm GTCR reportedly is looking to raise $6.75 billion in its latest buyout fund, which would the largest round of asset raising in the firm’s history, according to Bloomberg.

It has been more than more than three years since the firm announced the final closing of its twelfth fund, GTCR Fund XII, with $5.25 billion in limited partner capital. At that time, it was the largest fundraise in the firm’s history and initially launched in May 2017.

Since the firm’s founding in 1980, GTCR has invested more than $18 billion in more than 200 companies. The investment focus is to provide capital to growth companies in healthcare, financial services and technology, technology, media and telecommunications (TMT) and growth business services.

Earlier this month, the firm announced that its TerSera Therapeutics LLC portfolio company has entered into a definitive agreement to acquire the product Xermelo from Lexicon Pharmaceuticals for a purchase price of $159 million plus.

Xermelo was approved by the FDA in February 2017 for use in combination with somatostatin analog (SSA) therapy in adults inadequately controlled by SSA therapy. The product is also being investigated in a Phase 2 clinical study for the treatment of biliary tract cancer tumors.

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