Buyout shop Clayton, Dubilier & Rice has collected around $10 billion in an initial closing of its latest private-equity fund, raising the money in around four months, according to people familiar with the effort, as investors funnel more of their private-equity commitments to experienced managers.
The amount raised so far puts the New York firm roughly halfway toward a $20 billion goal for the Clayton Dubilier & Rice Fund XII LP and comes as the overall fundraising market for private-equity firms has grown more challenging.
Through this year’s first half, firms worldwide raised $247 billion for new funds, 43% less than in the same period last year, according to data provider Preqin Ltd.
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