Genstar Capital Holds Final Closing on $221 Million of Committed Capital
7/9/2001
Contact:Genstar Capital(415) 834-2350July 9, 2001 — Genstar Capital, L.P. (“Genstar”), a private equity firm specializing in equity investments structured as management buyouts or growth financings, today announced the closing of its third and largest fund, Genstar Capital Partners III, L.P. (“Genstar III”). Genstar III has $221 million of new capital under management bringing Genstar’s total capital under management to over $440 million. The fund is led by Genstar Managing Directors Jean-Pierre L. Conte, Richard F. Hoskins and Richard D. Paterson. With Genstar III, the firm is continuing its focus on investing primarily in the areas of life sciences, industrial technology and information technology. Utilizing a streamlined investment approach, Genstar assists companies to execute highly tailored restructuring and repositioning plans by developing and supporting a superior management team, providing focus on the profitability of the core business, and investing in both organic growth and add-on acquisitions. According to J-P Conte, Managing Director, “When I joined Genstar in 1995, we were a small team exclusively focused on industrial manufacturing. Recognizing the opportunity in expanding our proactive, value-added strategy into several, carefully targeted industries that we believed had promise, Genstar aggressively recruited top-notch talent, developed our network of operating partners, and expanded the firm’s focus areas. The 73% annual cash-on-cash returns in Genstar II speak for themselves. Our success has enabled us, in a very difficult fundraising environment, to double our fund size, retain our core existing investors, attract many new investors, and achieve our fundraising goal of raising over $200 million. We are now ready to invest during what I anticipate will be a very favorable period for buyers. We look forward to continuing to expand Genstar and create value for our investors.” “The closing of Genstar III signals the high level of confidence our investor base has in our investment strategy, exemplary performance record and proven management team,” said Rick Hoskins, a Managing Director of Genstar. “Moreover, current economic trends have multiplied the number of investment opportunities available to us and we look forward to building upon the strong foundation and results of our predecessor funds. The entire Genstar team is eager to seek out new investment opportunities.” Genstar III’s limited partners include pension plans, fund-of-funds, insurance companies, corporations, financial institutions, foundations and high-net worth individuals. Based in San Francisco, Genstar is a private-equity investment firm that makes leveraged investments in quality companies. Genstar works in partnership with management to create value over the long term. With more than $440 million of committed capital under management and significant experience operating and investing in businesses, Genstar brings a unique mix of experience to portfolio companies.