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Laxman Pai, Opalesque Asia: San Francisco-based Genstar Capital has raised about $11.7 billion for its tenth flagship fund - Genstar Capital Partners X.
The private equity manager, which is focused on investments in financial services, healthcare, industrials, and software industries, said in a press release that the latest middle-market buyout fund had $10.2 billion in limited partner commitments and $1.5 billion in overage capacity commitments from selected limited partners.
The fund reached its hard cap and was significantly oversubscribed, closing less than four months after its official launch in December 2020. The announcement comes less than two years after the buyout firm raked in $7 billion for its ninth fund.
"Fund X received strong support from its predecessor fund's existing investor base and an expanded group of limited partners, including leading global endowments and foundations, public and corporate pension plans, sovereign wealth funds, financial institutions, and family offices," said the release.
Investors include Ohio State Teachers Retirement System, Columbus; Nebraska Investment Council, Lincoln; Louisiana Teachers' Retirement System, Baton Rouge; Alameda County Employees' Retirement Association, Oakland, Calif.; San Mateo County Employees' Retirement Association, Redwood City, Calif.; Merced County (Calif.) Employees' Retirement Association; and Ohio State Highway Patrol Retirement System, Columbus.
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