GenNx360 Capital Partners has raised about $347 million for its second fund that is targeting $750 million, according to documents filed with the US Securities and Exchange Commission.
The amount raised so far does not include a general partner commitment of about $48 million, which could bring the fund’s total to around $800 million.
GenNx360 didn’t return a request for comment.
The firm’s debut fund closed on about $600 million in 2008 and received commitments from Cambridge Associates, the John S. And James L. Knight Foundation and the San Francisco Employees’ Retirement Fund, according to Private Equity International’s Research and Analytics Division.
Fund I has a portfolio of six investments, according to GenNx360’s website. The investments include equipment components company Maine Machine Products and Vertex Group, a UK-based business services outsourcing provider.
GenNx360’s Capital Partners’ Fund I, a 2007 vintage, is part of the California Public Employees’ Retirement System’s Capital Link Fund, which focuses on emerging domestic managers. GenNx360’s debut fund had a net investment return rate of 13.8 percent and a return multiple of 1.5x, as of 31 December, according to CalPERS performance data. The $258 billion public pension system committed close to $45 million to the fund.
GenNx360 was created by former GE Equipment Services president Arthur Harper and Ronald Blaylock, who founded investment banking boutique Blaylock & Company. GenNx360 is based in New York and has offices in Boston, Seattle and India according to its website.