Genstar Capital closes on $4bn

The US-based private equity firm closes eighth fund after ten weeks of fundraising.

Genstar Capital Partners VIII, launched in January 2017, has held a final close on $3.95 billion. The vehicle consists of $3.1 billion of limited partner commitments, $650 million of co-investment capital and a $200 million commitment from Genstar Capital. It will continue to focus on the firm’s core target sectors – financial services, software, industrial technology and healthcare.

The fund’s investor base includes endowments, foundations, pension funds, sovereign wealth funds and family offices. Oklahoma State Regents for Higher Education is among the investors.

Genstar Capital Partners VII closed in August 2015 on $2.1 billion, having launched in February of that year.

Evercore Partners served as the placement agent for Genstar Capital Partners VIII and Weil, Gotshal & Manges LLP acted as the legal advisor.