Hal Strong, former vice chairman of Russell Investments, has joined Genstar Capital as an operating executive. He will focus on the asset management and financial services sectors.
Genstar Capital, LLC, a middle market private equity firm that focuses on investments in selected segments of the life sciences, healthcare services, software & software services, financial & business services, and industrial technology industries, today announced the appointment of Hal Strong, former Vice Chairman of Russell Investments, as an Operating Executive.
Mr. Strong brings to Genstar an extensive financial sector expertise that spans nearly 30 years. Since 1990, he served with Russell Investments, a global investment management firm with over $150 billion in assets under management that provides investment solutions to individual, institutional and advisor clients in more than 40 countries. He will help Genstar’s efforts to make investments in asset managers and financial services businesses.
Jean-Pierre L. Conte, Chairman and Managing Director of Genstar, said, “We are very pleased that Hal will be working with Genstar to further extend our presence in the financial & business services vertical where we are seeking to capitalize on significant levels of global financial services spending and unprecedented market dislocation. Within this industry vertical we have already made significant progress in the insurance and commercial finance sectors and with the added involvement of a talented and experienced executive like Hal, we expect to identify targeted opportunities in the asset management sector.”
“Genstar has a long and established track record as a successful investment firm, and I look forward to sharing my knowledge of the asset management industry and working closely with the talented team of Genstar professionals to further build out their investments in the financial & business services vertical,” said Mr. Strong.
Mr. Strong joined Russell Investments in 1990 and served in a series of senior management positions, including Vice Chairman, Chief Operating Officer, Chief Financial Officer, and Head of Investment Banking. Prior to Russell Investments, Mr. Strong served as a Managing Director with Piper, Jaffray and Hopwood. He began his career at Salomon Brothers and is a graduate of the University of California, Berkeley, and received his MBA from the University of Washington.
Tony Salewski, a Genstar Senior Associate, said, “Genstar’s Operating Executives bring a unique level of industry specific expertise to the firm, and the addition of Hal will significantly enhance our efforts to find attractive investment opportunities in the asset management, financial technology and financial services sectors.”
Mr. Strong’s appointment is the latest addition to Genstar’s highly experienced team of industry leading executives. This team of Operating Executives and Strategic Advisors help drive value creation at portfolio companies by using their experience and deep industry expertise.
Genstar’s current investments in financial & business services include MidCap Financial, a commercial finance company focused on middle market lending to the healthcare industry; Confie Seguros, an insurance distribution company focusing on key Hispanic markets, and; 21st Services, a leading provider of life expectancy information for the life settlement industry.
About Genstar Capital, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that for over 20 years has been actively investing in high quality middle-market companies and building value in those businesses by utilizing the expertise of its operating executives. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating talent and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $3 billion of committed capital under management and targets investments focused on selected sectors within the life sciences, healthcare services, financial & business services, software & software services and industrial technology industries.