Firm: GenNx360 Capital Partners
Fund: GenNx360 Capital Partners II
Amount Raised: $346.9M
Placement Agent: Mercury Capital Advisors LLC
GenNx360 Capital disclosed the $346.9 million raised from 20 investors for Fund II, against a total projected offering amount of $750 million, in a Form D filing with the Securities and Exchange Commission and dated August 26. The firm listed Feb. 21, 2012 as its first date of sale for the fund, suggesting the firm has been in the market well over a year.
The fundraising tally doesn’t include an additional $48 million in commitments that are pending, according to the filing.
Managing Partner and founder Blaylock is listed on the Form D as a principal of the new fund. He’s also the founder of Blaylock & Company, the New York-based investment bank.
Executives at GenNx360 Capital did not return a phone call or an email from Buyouts.
The New York-based firm is now more than half way to the $600 million raised fir its maiden fund, GenNx360 Capital LP, the vintage 2006 vehicle that wrapped up in 2008.
Among limited partners, Capital Link Fund, a fund of funds of emerging managers built for the California Public Employees’ Retirement System, committed $45 million to the debut fund in 2007 and earned an internal rate of return of 13.8 percent as of Dec. 31, 2012.
The firm’s founders include Managing Partners Arthur Harper, James Shepard and Lloyd Trotter, all of whom worked for many years at General Electric Co. Trotter logged nearly 40 years at the conglomerate and was appointed a vice chairman of GE in 2006.
“Unlike firms that are generalist investors, and pure money managers who are hands-off, we’re operating managers and industry insiders who are hands-on and specialized,” GenNx360 Capital says on its website.
Portfolio companies from GenNx360 Capital’s first fund include Vertex Data Science Ltd, a computer software and services firm, added in 2007, as well as several industrial and energy companies, including Horsburgh & Scott Company, Maine Machine Products Company, and Schramm Inc.
GenNx360 Capital also holds a stake in Syncreon, a logistics company that has been involved in a legal dispute over an options deal with its ex-U.S. chief Willie Lanier, a former NFL player for the Kansas City Chiefs who was inducted into the Pro Football Hall of Fame in 1986.