Private equity firm GTCR is poised to return more than $5bn to its limited partners in 2025, defying broader market headwinds and liquidity pressures that have stalled distributions across much of the private markets landscape, according to a report by Reuters.

The report cites an unnamed source familiar with the matter as revealing that the wave of distributions is driven by a series of successful exits, including the firm’s recent two-times return from the $24.25bn sale of Worldpay, one of the largest transactions of the year. That deal, structured as a three-way split with GTCR, FIS and private equity peer Advent International, has been a standout in an otherwise subdued M&A environment.

In recent months, GTCR has also exited several marquee investments, including the sale of insurtech platform itel for over $1.3bn, and the late 2024 sale of AssuredPartners, a major insurance brokerage, to Arthur J Gallagher for $13.45bn.

The timing of these exits places GTCR among a small group of GPs generating meaningful liquidity for LPs in a period marked by slowing capital recycling, rising interest rates, and ongoing macroeconomic uncertainty. The firm has demonstrated a contrarian ability to execute timely monetisations, even as many peers are forced to hold assets longer.

Despite a broader slowdown – April M&A volumes hit a two-decade low, according to industry data – GTCR’s recent divestments are expected to bolster its fundraising narrative and deepen LP confidence heading into 2025.

GTCR declined to comment on the reported returns.