General Information
This brochure is prepared on behalf of Genstar Capital Management LLC, Genstar Capital
Partners LLC, and Genstar Capital LLC (together with their affiliates that provide advisory
services to and/or receive management fees from the Funds (as defined below), “Genstar”
or the “Firm”), in accordance with the requirements of Rule 203-1 under the Investment
Advisers Act of 1940, as amended, (“Advisers Act”) and Form ADV. Such affiliates may
or may not be under common control with Genstar Capital Management LLC, but possess
a substantial identity of personnel and/or equity owners with Genstar Capital Management
LLC. These affiliates may be formed for tax, regulatory or other purposes in connection
with the organization of the Funds (as defined below), or may serve as General Partners (as
defined below) of the Funds. The information herein responds to specific information
required by Rule 203-1, and Form ADV, and does not contain all of the terms of an
investment in any of the Funds. Investors should refer to the information in the Fund
Documents (as defined below) for additional information regarding an investment in any of
the Funds.
Our Firm
Genstar is a San Francisco-based private investment firm. The principal owners of Genstar
Capital Management LLC, Genstar Capital LLC, and Genstar Capital Partners LLC are
Jean-Pierre L. Conte, J. Ryan Clark, Anthony J. Salewski, Robert S. Rutledge, and Eli P.
Weiss (the “Managing Partners”). Genstar has been in business for approximately 35
years.
Genstar makes controlled, growth-oriented private equity investments in middle-market
companies headquartered in North America. Middle-market companies generally are
companies having an enterprise value of approximately $250 million to $1.5 billion. The
Firm targets investments in four core industry verticals (“Core Verticals”) of Financial
Services, Healthcare, Industrials, and Software. Genstar’s advisory services consist of
providing investment advice and other management and administrative services, including
investigating, structuring, and negotiating potential investments on behalf of the Funds,
monitoring the performance of such investments and advising as to disposition of such
investments. Genstar may serve as the investment adviser or general partner to the Funds in
order to provide such services.
Ownership and Structure
Genstar is a Delaware limited liability company that is registered with the SEC as an
investment
adviser under the Advisers Act. Together with trusts for the benefit of their
families, the Managing Partners are the principal owners of the Firm.
Nature of Our Clients
Genstar provides discretionary investment management services through affiliated General
Partners to private investment funds (the “Funds”). The Funds are typically U.S. limited
partnerships or other investment vehicles that are not registered or required to be registered
under the U.S. Investment Company Act of 1940, as amended, (“1940 Act”) or the U.S.
Securities Act of 1933, as amended, (“Securities Act”), and are privately placed to
qualified investors in the U.S. and elsewhere.
The Funds are collectively referred to in this brochure as “Clients.” Persons and entities
that invest in the Funds are referred to in this brochure as “investors” or “limited
partners.” Genstar provides investment advice and other services directly to the Funds and
not individually to the investors in the Funds.
Genstar does not currently participate as manager in any wrap fee programs.
Types of Advisory Services Offered
Discretionary investment management services are provided to the Funds in accordance
with the terms of private placement memoranda and relevant offering materials and
governing documents, including limited partnership agreements, side letters and
management agreements, of the Funds (together, the “Fund Documents”).
Discretionary investment management services are provided directly to each Fund, subject
to the discretion and control of the applicable general partner of such Fund, Genstar Capital
V, L.P., Genstar Capital VI, L.P., Genstar Capital VII, L.P., Genstar Capital VIII, L.P.,
Genstar Capital IX, L.P., Genstar Capital X, L.P. and Genstar Capital XI, L.P. (each a
“General Partner” and, collectively, the “General Partners”), and not individually to the
investors in such Fund. The terms upon which the Firm serves as investment manager of a
Fund are established at the time such Fund is established and are generally set out in the
Fund Documents applicable to such Fund. These terms may vary among each Fund and
potentially restrict investments in accordance with certain diversification provisions.
Assets Under Management
As of December 31, 2023, Genstar managed $48,648,549,452 of Client assets, all of which
are managed on a discretionary basis. This includes the committed capital that may be
called by the Funds from their respective limited partners.