CD&R gathers $20B toward $26B flagship buyout fund
What's the deal? Clayton, Dubilier & Rice has raised about $20 billion for Clayton, Dubilier & Rice Fund XIII, its 13th flagship private equity vehicle, within six months of launching fundraising, according to people cited by BloombergDealroom has a profile for this one. Try Dealroom →. The fund targets $26 billion and carries a hard cap of $28.5 billion.
Why now? The pace is twice that of its predecessor, Fund XII, which gathered roughly $10 billion over a comparable span in 2023. Several existing limited partners have increased their commitments to the new fund.
Who's backing it? The Pennsylvania Public School Employees' Retirement System has committed up to $200 million, according to its own documents. CD&R is targeting a final close in the first quarter of 2027.
What's the endgame? Unlike many rivals, the New York buyout firm has stuck to its core private equity business rather than expanding into private credit or private wealth. It reported about $87.35 billion of discretionary assets under management as of April 2026, with a portfolio spanning industrial, healthcare, consumer, technology, and financial services companies.
The signal: At target size, Fund XIII would rank among the largest buyout vehicles ever raised, near the roughly $27 billion Advent InternationalDealroom has a profile for this one. Try Dealroom → gathered for its latest flagship and KKR's $23 billion North America fund. The speed stands out in a selective market, where US buyout fundraising stayed subdued through the third quarter and funds of $1 billion or more captured about 83% of capital raised, according to NEPC — evidence that capital is concentrating in a few established names rather than a broad recovery.
Read more: news.bloomberglaw.com
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