The firm was founded in 2006 by Arthur Harper, formerly president and chief executive of GE Equipment Services, and Ronald Blaylock, who founded investment banking boutique Blaylock & Co. in 1993.
GE vice chairman Lloyd Trotter plans to join the firm next month after his retirement from GE.
The new fund will target industries including water treatment, specialty chemicals and engineered materials, industrial machinery and equipment components, global transportation component parts and services, industrial security services and business services. GE is an investor in the fund, according to Dow Jones, which cited unnamed sources.
GenNx360 also plans to set up a network of senior executives from Fortune 100 companies to oversee the firm’s portfolio companies.
General Electric executives are in demand in the private equity industry. Earlier this week TPG recruited Nobuhiko Ito, former president and chief executive office of GE Japan, to be a senior advisor for its Japanese operations.