Genstar Capital, which is focused on investments in financial services, healthcare, industrials and software industries, said on Monday it had raised more than $10 billion for its tenth flagship fund.The announcement comes less than two years after the buyout firm raked in $7 billion for its ninth fund.
U.S. private equity fundraising dropped to $203.2 billion in 2020 from its record high of $320.5 billion in 2019, according to data from Pitchbook, underscoring investor apprehension towards record high buyout prices.
With $33 billion of assets under management, San Francisco-based Genstar primarily focuses on midmarket companies. Its portfolio includes proxy advisory firm Institutional Shareholder Services, software vendor Bullhorn and digital video software provider Telestream.
By Niket Nishant
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.