Genstar Capital has held a first, final and hard cap closing of Genstar Capital Partners XI LP with $12.6 billion of committed capital.
In addition, through Genstar Opportunities Fund XI LP, the firm raised an overage capacity of approximately $800 million from select limited partners to co-invest in Fund XI’s larger transactions.
Genstar’s new fund was supported by both new and existing limited partners including endowments and foundations, public and corporate pension plans, sovereign wealth funds, financial institutions, and family offices.
Genstar is an active investor in middle-market companies that have enterprise values from $50 million to $1 billion and EBITDA greater than $15 million. Sectors of specific interest include financial services, software, industrial, and healthcare industries. Genstar’s new fund has not yet closed on any platform investments.
Genstar’s earlier fund, Genstar Capital Partners X LP, closed in April 2021 at its hard cap with $10.2 billion of committed capital.
San Francisco-headquartered Genstar was founded in 1988 and is led by managing partners Ryan Clark (President), Jean-Pierre Conte (Chairman), Rob Rutledge, Tony Salewski, and Eli Weiss.
Once again, Genstar used Evercore Partners as its placement agent and Weil, Gotshal & Manges provided legal services.
© 2023 Private Equity Professional | May 2, 2023
