Genstar Capital, a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, closed Genstar Capital Partners X with approximately $10.2 billion in total commitments. In addition, Genstar has raised committed overage capacity of $1.5 billion from select limited partners for Genstar’s Opportunities Fund X, which will co-invest in Fund X’s larger transactions. The general partner and affiliated entities are collectively the largest investor in Fund X. Total capital raised, including Fund X, the general partner, affiliated entities, and the overage capacity is approximately $11.7 billion.
The fund reached its hard cap and was oversubscribed, closing less than four months after its official launch in December. The general partner will continue to be led by managing partners J. Ryan Clark, Jean-Pierre L. Conte, Rob S. Rutledge, Tony J. Salewski, and Eli P. Weiss.
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.
Evercore Partners served as placement agent for the fund, and Weil, Gotshal & Manges LLP provided legal advice.