NFL Hall of Famer Steve Young’s HGGC Raises New $3.2 Billion Fund, Beating Target

HGGC, the private equity firm co-founded by Hall of Fame quarterback Steve Young, amassed $3.2 billion for its fifth fund, exceeding its initial target despite a muted fundraising environment.

The pool had an initial target of $2.5 billion and a hard cap of $2.8 billion, which it topped through commitments from pensions, endowments, family offices and sovereign wealth funds, Young and co-founder Rich Lawson said in an interview at HGGC’s Palo Alto, California, headquarters.