(Reuters) – Genstar Capital, which is targeted on investments in monetary providers, healthcare, industrials and software program industries, mentioned on Monday it had raised greater than $10 billion for its tenth flagship fund.
The announcement comes lower than two years after the buyout agency raked in $7 billion for its ninth fund.
U.S. personal fairness fundraising dropped to $203.2 billion in 2020 from its report excessive of $320.5 billion in 2019, in accordance with knowledge from Pitchbook, underscoring investor apprehension in direction of report excessive buyout costs.
With $33 billion of belongings below administration, San Francisco-based Genstar primarily focuses on midmarket firms. Its portfolio contains proxy advisory agency Institutional Shareholder Providers, software program vendor Bullhorn and digital video software program supplier Telestream.
Moreover $10.2 billion for the latest fund, named Fund X, Genstar additionally raised about $1.5 billion for an extra automobile that will likely be used to co-invest in bigger offers, the corporate mentioned.