Hellman & Friedman near hard cap on next mega fund

After a lightening fast fundraise, the firm has raised almost $10 billion

California-based Hellman & Friedman have raised just shy of $10 billion for their Hellman & Friedman Capital Partners VIII vehicle according to SEC filings. This is the biggest fund raised by the firm in its history.

Hellman & Friedman Capital Partners VIII is the firm’s eighth buyout vehicle and will follow the same buyout strategy of predecessor funds.

The initial target for this fund was $9 billion according to Private Equity International’s research and analytics division. The hard-cap is set at $10.25 billion.

Hellman & Friedman declined to comment on fundraising.

The fund first came to market in April. The vehicle will target investments between $300 million to $1 billion of equity in companies based in developed markets including the United States and Europe, according to its website.

The firm’s seventh fund closed on $8.4 billion in 2007 at the height of the pre-crisis market.