GTCR has closed its GTCR Fund XIV with aggregate commitments of $11.5 billion. The fund, which had an initial target of $9.25 billion, reached its hard cap.

Fund XIV looks to expand the firm’s capacity to partner with management leaders in its core industry domains of healthcare, technology, media and telecommunications, business and consumer services and financial services and technology. The fund includes total limited partner commitments of $11 billion and a commitment from GTCR of approximately $500 million.

“This committed equity capital of Fund XIV positions GTCR and its investment teams with the resources to invest through periods of uncertainty and varied economic conditions,” comments Dean Mihas and Collin Roche, co-CEOs of GTCR.

Kirkland & Ellis served as legal advisor to GTCR.