Genstar Capital said Monday that its most recent fund closed at $2 billion, exceeding its initial target of $1.5 billion. Genstar said the GP will commit a “meaningful” amount of additional capital. Evercore served as placement agent for Genstar Capital Partners VII. San Francisco-based Genstar targets sectors including financial services, software, industrial technology, and healthcare.
SAN FRANCISCO, August 10, 2015 – Genstar Capital, a leading middle-market private equity firm that focuses on investments in targeted segments of the financial services, software, industrial technology, and healthcare industries, today announced that it has completed fundraising for Genstar Capital Partners VII with $2.0 billion of total limited partner committed capital, exceeding its initial target of $1.5 billion. The general partner will commit a meaningful amount of additional capital. Genstar now manages funds with total capital commitments of more than $5 billion.
“Our current team of managing directors has worked together for more than a decade to create strong and profitable companies and build a collaborative culture at Genstar. This latest fund is a significant endorsement of our ability to effectuate change within our portfolio companies and achieve superior returns for our investors in the sectors where we have proven operating experience,” said Jean-Pierre L. Conte, Managing Director and Chairman of Genstar. “We will continue investing in growing companies where our operational expertise and financial resources create market-leading companies that are stronger as a result of our involvement.”
Tony Salewski, Managing Director of Genstar, said: “This new fund is a key milestone for us and a testament to the ongoing development of our organization. It reflects the hard work of our experienced investment team and network of operating partners who help us to source, diligence, and grow our portfolio companies. We would like to thank our long-term investors for their strong support, which allowed us to hit the hard cap of our fund size, and to drive a quick and successful fundraise. We also welcome the outstanding new global investors who have entrusted us with their capital.”
Genstar’s investor base includes university endowments, foundations, corporate and public pension funds, sovereign wealth funds, global financial institutions, and family offices. Genstar has 20 investment professionals led by a strong and cohesive team of partners who have built a collaborative culture for over 20 years.
Ryan Clark, Managing Director of Genstar, added, “We are very pleased with the strong performance of our prior funds and the support of our existing investors which enabled us to successfully raise Fund VII. This new capital positions us well to pursue the strong pipeline of investment opportunities we have identified, and we are confident we have the team to execute our strategy and continue delivering value for our investors.”
Evercore served as exclusive global placement agent for Genstar. Weil, Gotshal & Manges LLP served as legal counsel.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the financial services, software, industrial technology, and healthcare industries.