Gemspring Capital LLC has raised $350 million at a hard cap for its oversubscribed debut fund. The limited partners of Gemspring Capital Fund I LP included endowments, foundations, family offices, gatekeepers, pension plans and fund of funds. Acalyx Advisors Inc was the placement agent. Based in Westport, Connecticut, Gemspring focuses on lower middle-market companies.
WESTPORT, Conn.–(BUSINESS WIRE)–Gemspring Capital, LLC (“Gemspring”), a Westport, Connecticut based private equity firm specializing in lower middle market companies, announced the final closing of its debut fund, Gemspring Capital Fund I, LP (the “Fund”), with $350 million of capital commitments.
The Fund was oversubscribed and closed at its hard cap in less than three months after the official launch in August. Gemspring secured commitments from a globally diversified investor base comprised of leading endowments, foundations, family offices, gatekeepers, pension plans and fund of funds.
“We could not be more pleased with the support and quality of our investors and the efficiency of the fundraising process,” commented Bret Wiener, Managing Partner of Gemspring. “We are excited to execute on our operationally-focused investment strategy and help transform businesses to achieve their full potential.”
Acalyx Advisors Inc. (“Acalyx”) served as exclusive placement advisor. “We appreciate that in this crowded market, limited partners have significant choice as to where they invest their capital, and it was clear that Gemspring’s strategy and the team’s long record of outstanding executive references stood out in a meaningful way,” said Jennifer Cho Rinehart, CEO of Acalyx.
John Muno, Bruce Ettelson and Noah Mullin of Kirkland & Ellis LLP served as legal counsel to Gemspring.
About Gemspring Capital
Gemspring focuses on making control equity investments and structured equity investments in lower middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and takes a hands-on approach to driving revenue growth and operating efficiencies. The goal for each portfolio company is growth, enhanced market leadership and a significant increase in the strategic value of the business. Target companies have up to $250 million in revenue and are in the business services, industrial services, distribution and logistics, healthcare services, specialty manufacturing, media, technology or software sectors. For more information, visit www.gemspring.com.
About Acalyx Advisors
Acalyx is a highly selective independent firm specializing in advisory, private placement and investor relations for leading alternative asset management firms around the globe. With offices in New York and San Francisco, the firm is led by a seasoned team of senior professionals who have collectively raised and advised on over $80 billion in private equity over the last 15 years. Prior to establishing Acalyx, the team worked together for over a decade serving as a trusted advisor to General Partners raising private equity funds from institutional investors across a number of strategies, including buyout, special situations and credit. For more information, visit www.acalyx.com.