Genstar Capital completed fundraising for Genstar Capital Partners VII with $2 billion of total limited partner committed capital, exceeding its initial target of $1.5 billion. The general partner will commit a meaningful amount of additional capital. Genstar now manages funds with total capital commitments of more than $5 billion.

Evercore served as exclusive global placement agent for Genstar. Weil, Gotshal & Manges LLP served as legal counsel.

Genstar’s investor base includes university endowments, foundations, corporate and public pension funds, sovereign wealth funds, global financial institutions and family offices.

Tony Salewski, managing director of Genstar, said, “This new fund is a key milestone for us and a testament to the ongoing development of our organization. It reflects the hard work of our experienced investment team and network of operating partners who help us to source, diligence, and grow our portfolio companies. We would like to thank our long-term investors for their strong support, which allowed us to hit the hard cap of our fund size, and to drive a quick and successful fundraise. We also welcome the outstanding new global investors who have entrusted us with their capital.”

“Our current team of managing directors has worked together for more than a decade to create strong and profitable companies and build a collaborative culture at Genstar. This latest fund is a significant endorsement of our ability to effectuate change within our portfolio companies and achieve superior returns for our investors in the sectors where we have proven operating experience,” said Jean-Pierre L. Conte, managing director and chairman of Genstar. “We will continue investing in growing companies where our operational expertise and financial resources create market-leading companies that are stronger as a result of our involvement.”