Genstar Capital has closed its eighth flagship with $3.95 billion in total commitments, comprising $3.1 billion from LPs, another $650 million in overage capacity from LPs and $200 million of the firm’s own cash. The vehicle represents a major uptick in size from its predecessor, Genstar Capital Partners VII, which closed on $2.1 billion in 2015.
So far, 2017 is proving a good time to be a private equity firm raising a new fund. Two weeks ago, Platinum Equity closed its latest buyout vehicle on $6.5 billion; now, you can tack Genstar onto the long list of firms collecting billions for new investments.
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