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Laxman Pai, Opalesque Asia: Genstar Capital announced the first and final close of its latest fund, Genstar Capital Partners XI, at its $12.6 billion hard cap.
The middle-market private equity firm said in a media release that in addition, Genstar raised committed overage capacity from select limited partners which will co-invest in Fund XI's larger transactions.
The General Partner and affiliated entities are collectively the largest investor in Fund XI and will continue to be led by Managing Partners Ryan Clark, Jean-Pierre Conte, Rob Rutledge, Tony Salewski, and Eli Weiss.
According to the San Francisco, CA-based PE firm Fund XI reached its hard cap with strong support from its 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.
Genstar's previous fund, Genstar Capital Partners X, closed in April 2021 with approximately $10.2 billion of total committed capital.
"Genstar will continue to make control investments in middle market companies primarily headquartered in North America. The firm is 100% employee owned and operates from a single office in San Francisco," the release said.
The investment team is complemented by a group of 31 Strategic Advisors, who are current and former business leaders, working side by side with the Genstar investment team.
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