Private equity firm Genstar Capital has raised a new fund, called Genstar Capital Partners VIII, with approximately $3.95 billion in capital commitments. Fund VIII will focus on the firm’s “sweet spot of deals requiring $100 million to $400 million of equity,” according to Genstar managing director Ryan Clark.
Fund VIII received investments from endowments, foundations, public and corporate pension plans, sovereign wealth funds, financial institutions and family offices. The firm’s previous fund, Genstar Capital Partners VII, closed with nearly $2.1 billion in total capital. Weil, Gotshal & Manges LLP served as legal counsel on Fund VIII, while Evercore Partners served as placement agent. Genstar began raising capital for Fund VIII in January.