Terra Firma looking to raise $3.4bn fund

A source with knowledge of the situation told unquote" that the vehicle is seeking commitments from a global pool of investors. It is also understood that there are no other affiliated vehicles raising commitments alongside the Guernsey-domiciled fund, implying that the target figure of $3.4bn (approximately €3bn) cited in the filing is all-inclusive.

The vehicle is the first institutionally-backed fund raised by the GP since it closed its third fund, Terra Firma Capital Partners III, on €5.4bn in May 2007.

The development comes 13 months after the firm appointed Andrew Géczy - previously CEO of international and institutional banking at Australia & New Zealand Banking Group - as its CEO.

In early 2015, Terra Firma announced that it would be investing from a €1bn pool of capital, made up largely of the GP's own capital reserves, combined with some third-party capital. The firm said at the time that it would explore three strategies in order to deploy the €1bn pool – it could be used to launch a new fund, to underwrite deals or to co-invest in deals managed by the GP.

Speaking to unquote" at the time, Terra Firma chairperson and chief investment officer Guy Hands said: "If we decided to launch a new fund, we could use our own cash, alongside one or a few other investors, and hold a first close for several hundred million in order to get the fund started quickly."

A spokesperson for Terra Firma declined to comment on the latest filing.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Buyout
• UK / Ireland
• GPs
• Terra Firma
• Guy Hands
• United Kingdom
• United States