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Bailey McCann, Opalesque New York: San Francisco-based Genstar Capital has closed its latest fund on $3.95 billion after just ten weeks in market. Fund VIII hit its $3.1 billion target and raised an additional $650 million of overage capacity from select limited partners.
The General Partner will be led by the firm's Managing Directors J. Ryan Clark, Jean-Pierre L. Conte, Rob S. Rutledge, Tony J. Salewski, and Eli P. Weiss.
"With our new fund and overage capacity, we will be able to write investment checks over $600 million if needed, while still focusing on our sweet spot of deals requiring $100 million to $400 million of equity," said J. Ryan Clark, President and Managing Director.
Genstar closed its previous fund, Genstar Capital Partners VII, with approximately $2.1 billion of total committed capital, in 2015. Fund VIII will maintain the same mandate - investing in middle market companies focused on targeted segments of the financial services, software, industrial technology, and healthcare industries.
Genstar has 19 members on its investment team operating from a single office in San Francisco. They are supported by a senior operations team and complemented by a group of 23 strategic advisors, who are current and former operating executives, working side by side with the Genstar investment team.
Known investors in the fund include the Nebraska Investment Council.
Evercore Partners served as Placement Agent for the fund, and Weil, Gotshal &...................... To view our full article Click here
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