Private equity firm Clayton, Dubilier & Rice is closing in on its $26 billion goal for its latest flagship private equity fund.
The New York-based firm has secured approximately $20 billion in commitments in the first six months of fundraising, sources familiar with the matter told Bloomberg.
The fund has a hard cap of $28.5 billion, according to the Pennsylvania Public School Employees’ Retirement System, which has committed approximately $200 million to the fund.
The fund is targeting a final close by the first quarter of 2027, sources noted. If successful, the fund could reach the size of Advent International’s latest flagship vehicle, which raised nearly $27 billion, ranking among the largest buyout funds ever.
By comparison, CD&R had raised approximately $10 billion over a similar period in 2023 for its predecessor, Fund XII. Some existing limited partners have also pledged larger amounts to the new fund than they did to the prior vehicle, sources stated.
CD&R has approximately $87.35 billion in discretionary assets under management as of April 2026, according to regulatory filings.
While several private equity firms have expanded into private credit and wealth management, CD&R has chosen to concentrate on its core buyout business, foregoing a private wealth offering.
The firm invests in a broad range of industries including industrial, healthcare, consumer, technology and financial services end markets. Its portfolio includes investments in Seal Air, CRC Group, Mosaic Health, Presidio and Shearer’s Foods, among others.
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