Genstar Capital announced the first and final close of its latest fund, Genstar Capital Partners XI, at its $12.6 billion hard cap, according to a Genstar spokesman in an email.
In addition to raising capital for the main fund, Genstar raised capital to co-invest in Fund XI's largest transactions, bringing the total amount raised to on $13.4 billion, according to a statement by Genstar's placement agent Evercore Partners.
Genstar's 11th North America middle market buyout fund, not including the parallel co-investment vehicle, is 24% larger than its predecessor $10.2 billion Genstar Capital Partners X, which closed in April 2021, also at its hard cap.
Investors in Genstar Capital Partners XI include the $88.2 billion Ohio State Teachers' Retirement System, Columbus; the $24.5 billion Louisiana Teachers' Retirement System, Baton Rouge; and the $5.9 billion San Mateo County Employees' Retirement Association, Redwood City, Calif.
