Clayton, Dubilier & Rice has raised approximately $20bn for its latest flagship private equity fund within six months of launching fundraising, putting the US buyout firm on course towards its $26bn target, according to a report by Bloomberg.
The fundraising for Clayton, Dubilier & Rice Fund XIII has progressed significantly faster than its predecessor, which attracted approximately $10bn over a comparable period in 2023. Several existing limited partners are reportedly understood to have increased their commitments to the new vehicle.
Fund XIII has a hard cap of $28.5bn, according to documents from the Pennsylvania Public School Employees’ Retirement System, which has committed up to $200m. CD&R is reportedly targeting a final close in the first quarter of 2027, potentially placing the fund among the largest buyout vehicles ever raised.
Unlike many competing alternative asset managers, CD&R has maintained its exclusive focus on private equity rather than expanding into private credit or private wealth.