Genstar Capital Hits $2B Hard Cap with Seventh Fund

Aug 10 2015 | 12:30pm ET

Middle-market private equity company Genstar Capital has completed fundraising for its seventh fund, amassing $2 billion of total limited partner committed capital and hitting the fund’s hard cap. 

The company’s initial target for Genstar Capital Partners VII was $1.5 billion. The raise means the private equity firm 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,” noted Jean-Pierre Conte, managing director and chairman of 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.”

Genstar was assisted in the raise by Evercore, which served as exclusive global placement agent, and by Weil, Gotshal & Manges LLP as legal counsel.

Founded in 1988, San Francisco-based Genstar focuses on investments in targeted segments of the financial services, software, industrial technology, and healthcare industries. Its clients include endowments, foundations, pension funds, sovereign wealth funds, financial institutions, and family offices. 

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