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Alternative Assets  + Private Equity  | 
Hellman & Friedman Exceeds $20B for Latest Flagship Fund

Hellman & Friedman Exceeds $20B for Latest Flagship Fund

Private equity firm Hellman & Friedman exceeded $20 billion for its latest massive fundraise, two years after collecting more than $24 billion for its predecessor vehicle.

The firm is targeting $24 billion for Fund XI, with reports suggesting it could go higher than that to reach a hard cap.

More than 125 investors have backed Fund XI to date according to a filing H&F submitted to the US Securities and Exchange Commission.

Earlier this year H&F received a $600 million commitment for the fund from CalPERS, which comes just a couple of years after the firm picked up $24.4 billion for the final close of Fund X. That was followed by $300 million from Virginia Retirement System in April.

Fund X raised by the firm in 2021 easily outstripped its already impressive $16 billion Fund IX from 2018, and rivals mega-funds raised by private equity giants Blackstone, Carlyle and KKR in recent years.

Recent big investments from San Francisco-based H&F include teaming with Permira to take software company Zendesk private in a $10.2 billion deal completed in November 2022.

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Hellman & Friedman

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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