CD&R to Seek About $5 Billion for Next Fund

Clayton Dubilier & Rice LLC plans to seek about $5 billion for its next fund, the same amount it gathered last time, according to three people familiar with the situation.

Clayton Dubilier & Rice Fund IX LP is expected to officially come to market next year, said one of the people familiar. The New York-based firm closed its prior fund in December 2009 at $5 billion, after revising its target down to that figure from an original $7.5 billion. The fund before that raised $4 billion in 2006.

Thomas Franco, a partner at the firm, declined to comment.

Clayton Dubilier’s chairman and cofounder Joseph Rice III retired this year. Rice, 80, helped form the firm in 1978. The firm is led by Donald Gogel, who has worked there for 23 years.

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