News

Genstar Capital Completes Fund V with $1.55 Billion of Limited Partner Commitments

6/6/2007

Successful Track Record Combined With Global Investor SupportLeads To Quick Completion Of ProcessContact: Chris Tofalli914-834-4334ctofalli@gencap.comSAN FRANCISCO, June 6, 2007 — Genstar Capital, LLC, a middle market private equity firm that focuses on investments in selected segments of life science and healthcare services, industrial technology, business services and software, today announced the first and final closing of its most recent fund, Genstar Capital Partners V, L.P., with total limited partner capital commitments of $1.55 billion. Genstar had an initial target of $1.0 billion. Genstar now has more than $3 billion of committed capital under management.Genstar’s previous fund was raised in the fall of 2004 with $475 million of limited partner capital. Genstar’s previous investors from Genstar IV made up approximately 80% of Genstar V and the firm was able to attract a select group of new institutional investors for the balance of the new fund. Park Hill acted as placement agent for Genstar V. Genstar’s current limited partners include experienced private equity investors representing a diversified base of U.S., Canadian and European pension plans, university endowments, fund of funds, insurance companies, corporations, foundations and high-net-worth individuals. Jean-Pierre L. Conte, Chairman and Managing Director of Genstar, said, “We are extremely pleased with the investor response to our fifth fund which we believe is a reflection of our specific approach to utilize the expertise of extremely talented operating executives who can help us to dramatically enhance the growth and performance of our businesses. We will continue to pursue an extremely focused investment strategy in the middle market by investing only in the industry sectors where we have deep knowledge and then applying the full resources of our committed management teams to create superior value for all of our stakeholders. I want to thank all of our investors who supported us during this process and made it a great success.”“With the growth of our organization over the last few years and the addition of prominent Strategic Advisory Board members and Operating Partners in our target industries, we are now well positioned to execute on our investment strategy with this new fund,” said Mr. Conte.Commenting on the firm’s pending transactions, Mr. Conte, added, “We continue to review a robust pipeline of extremely high quality transactions that we have been able to source on a proprietary basis as a result of the dedicated work of our management team and operating partners. We look forward to selecting the best companies that fit within our strategic investment approach and making them part of Genstar’s existing portfolio of strong companies.” Genstar’s recent transactions include the acquisitions of ConvergeOne, one of the largest independent providers of business communications solutions in the U.S.; International Aluminum Corporation, a leading manufacturer of residential and commercial aluminum building materials; and OnCURE Medical, a national operator of treatment centers focused on providing state-of-the-art radiation treatment alternatives. About Genstar Capital, LLCBased in San Francisco, Genstar Capital (www.gencap.com) is a private equity investment firm that makes leveraged investments in quality middle-market companies. Genstar Capital works in partnership with management to transform its portfolio companies into industry-leading businesses. With more than $3 billion of committed capital under management and significant experience investing in businesses, Genstar focuses on selected segments of life science and healthcare services, industrial technology, business and software services.###

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