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GenNx360 hires new operating partner ahead of Fund II final close

7 Jan 2014

otis spencer GenNx360Mid-market focused private equity firm GenNx360 Capital Partners has hired a new operating partner as it prepares to unleash capital from the $750m second fund it is currently raising.

Otis Spencer has more than 23 years of experience in many of GenNx360’s areas of focus, including industrial manufacturing, logistics and defence, the firm said.

He was previously manufacturing strategy and operations advisor at WBS Financial, and served in the US Army between 1990 and 2003.

AltAssets revealed last August that the firm was whisker away from the halfway point in its $750m-targeting second fundraise.

GenNx360 Capital Partners II had gathered more than $346m from 20 LPs after 18 months on the road according to a filing with the US securities regulator.

The firm registered the vehicle in February last year as a follow-up to its $500m debut vehicle, which closed in 2008 after two years of fundraising.

GenNx360 was founded by ex-GE vice chairman Lloyd Trotter, former GE Equipment Services (GEES) CEO Arthur Harper and investment bank founder Ronald Blaylock.

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