Terra Firma is seeking $3.4bn (€2.9bn) as it returns to market for a new private equity fund, regulatory filings have revealed.

Terra Firma’s last fund closed in 2007 at a total of €5.4bn, but the firm has not returned to market for a flagship buyout fund in the post-EMI era.

Over the past decade, Terra Firma has explored various investment options outside of traditional private equity strategies, including an aborted renewable energy fund and small “support capital” investments akin to LP co-investment.

However, the firm has sealed a number of exits of late, including those of AWAS, Infinis and Odeon, and recently raised fresh equity for a refinancing of its property business Annington. It has also stabilised its top team with the appointments of Sainsbury’s veteran Justin King as head of portfolio and Andrew Géczy as chief executive officer.

Founder Guy Hands bought the McDonalds franchise in the Nordics using his own money.

The firm declined to comment.