Hellman & Friedman LLC has set a goal of more than $10 billion for its latest buyout fund, making it part of an elite group of private-equity firms seeking that much capital after the financial crisis. The $10.25 billion target and hard cap is 15 percent larger than the last fund raised in 2009 and exceeds the San Francisco-based firm’s $8.4 billion pool raised in 2007, according to two people with knowledge of the matter.
Buyout firms are raising the most capital since the 2008 financial crisis as pension funds face pressure to allocate money after stock-market gains in the past two years left them underexposed to private equity. Managers handed back a record $135 billion to clients last year worldwide amid a robust exit environment, according to data from Cambridge Associates LLC, a Boston-based researcher and consultant.
This article was taken from the Bloomberg Brief Private Equity Newsletter.
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