Private equity firm Genstar Capital has held the first and final closing of Genstar Capital Partners X (Fund X) with approximately USD10.2 billion in total commitments. In addition, the firm has raised committed overage capacity of USD1.5 billion from select limited partners for Genstar’s Opportunities Fund X, which will co-invest in Fund X’s larger transactions.
The General Partner and affiliated entities are collectively the largest investor in Fund X. Total capital raised, including Fund X, the General Partner, affiliated entities, and the overage capacity is approximately USD11.7 billion.
Fund X received strong support from its predecessor fund’s existing investor base and an expanded group of limited partners, including leading global endowments and foundations, public and corporate pension plans, sovereign wealth funds, financial institutions, and family offices. Genstar’s previous fund, Genstar Capital Partners IX, closed in 2019 with approximately USD7 billion of total committed capital.
Evercore Partners served as Placement Agent for the fund, and Weil, Gotshal & Manges LLP provided legal advice.