Genstar, Nearing Fund Close, Scores 5x On Insurance Broker

Target: Confie Seguros

Price: Undisclosed

Sponsor: ABRY Partners

Seller: Genstar Capital

Financial Adviser: Sponsor: Sica Consultants Inc.; Seller: J.P. Morgan Securities LLC, RBC Capital Markets

Genstar Capital made 5x its invested capital on Confie Seguros, an insurance brokerage roll-up the firm recently sold to ABRY Partners, a source close to the firm told Buyouts.

The healthy return should help the San Francisco-based buyout firm as it looks to wrap fundraising for its sixth buyout fund. The firm is “pretty much done” raising the fund, Managing Director Ryan Clark told Buyouts. Confie Seguros is an ...

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