Genstar promotes three amid fundraising push

The firm is currently fundraising for Genstar Capital Partners VIII, which is likely to close by the end of Q2.

Mid-market firm Genstar Capital has made three promotions, according to a statement from the firm issued on Wednesday.

The San Francisco-based firm, which focuses on financial services, software, industrial technology and healthcare, promoted Katie Solomon to managing director of talent management; Melissa Dickerson to chief financial officer and managing director of operations; and Ben Marshall to principal.

The three promotions come as Genstar is in the midst of raising its largest fund to-date, Genstar Capital Partners VIII. The fund, which launched in January, is seeking $2.5 billion and has a hard-cap of $3 billion, as reported by Private Equity International. It is also planning to raise an additional $400 million to $500 million in co-investment capital to go alongside the main vehicle.

According to a source familiar with the matter, the fund is likely to close by the end of the second quarter. The most recent fund, Genstar Capital Partners VII, closed on $2.1 billion in August 2015.

In her new title, Solomon will identify and acquire talent for the firm and manage recruiter relationships. She joined the firm in 2011 as director of human capital, according to her LinkedIn profile.

Prior to that, she was a vice president of human capital and investor relations at tech-focused private equity firm Vector Capital.

“For the past six years, Katie has been instrumental in raising the bar around talent management across our portfolio and has successfully led our own internal Genstar recruiting efforts,” Genstar president and managing director J Ryan Clark said in the firm’s statement.

Dickerson came to Genstar in 2004 as an accountant and will oversee finance and accounting, regulatory compliance, risk management, technology and administration of the firm, according to Genstar.

Prior to joining Genstar, Dickerson was a controller overseeing technology, administration, human resources, operations, investor relations, compliance and finance functions at mid-market private equity firm American Industrial Partners, according to her LinkedIn profile.

Marshall joined Genstar as an associate in 2010 and was most recently vice president, according to his LinkedIn profile. As principal, Marshall will help identify, evaluate and execute investments. He began his career as an investment banking analyst at Peter J Solomon.

Genstar declined to comment.