UK markets closed
  • FTSE 100

    6,915.75
    -26.47 (-0.38%)
     
  • FTSE 250

    22,251.26
    +3.76 (+0.02%)
     
  • AIM

    1,236.50
    -2.54 (-0.21%)
     
  • GBP/EUR

    1.1518
    -0.0004 (-0.03%)
     
  • GBP/USD

    1.3707
    -0.0027 (-0.20%)
     
  • BTC-GBP

    43,541.98
    +379.97 (+0.88%)
     
  • CMC Crypto 200

    1,235.89
    +8.35 (+0.68%)
     
  • S&P 500

    4,128.80
    +31.63 (+0.77%)
     
  • DOW

    33,800.60
    +297.00 (+0.89%)
     
  • CRUDE OIL

    59.34
    +0.02 (+0.03%)
     
  • GOLD FUTURES

    1,744.10
    -0.70 (-0.04%)
     
  • NIKKEI 225

    29,768.06
    +59.06 (+0.20%)
     
  • HANG SENG

    28,698.80
    -309.30 (-1.07%)
     
  • DAX

    15,234.16
    +31.46 (+0.21%)
     
  • CAC 40

    6,169.41
    +3.69 (+0.06%)
     

Buyout firm Genstar raises over $10 billion for tenth midmarket fund

·1-min read

(Reuters) - Genstar Capital, which is focused on investments in financial services, healthcare, industrials and software industries, said on Monday it had raised more than $10 billion for its tenth flagship fund.

The announcement comes less than two years after the buyout firm raked in $7 billion for its ninth fund.

U.S. private equity fundraising dropped to $203.2 billion in 2020 from its record high of $320.5 billion in 2019, according to data from Pitchbook, underscoring investor apprehension towards record high buyout prices.

With $33 billion of assets under management, San Francisco-based Genstar primarily focuses on midmarket companies. Its portfolio includes proxy advisory firm Institutional Shareholder Services, software vendor Bullhorn and digital video software provider Telestream.

Besides $10.2 billion for the most recent fund, named Fund X, Genstar also raised about $1.5 billion for an additional vehicle that will be used to co-invest in larger deals, the company said.

(Reporting by Niket Nishant in Bengaluru; Editing by Maju Samuel)