Gemspring Closes Debut Fund
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Gemspring Closes Debut Fund

gemspring-nf1Lower middle market investor Gemspring Capital has held a final closing of its debut fund, Gemspring Capital Fund I LP, with $350 million of capital commitments.

According to Gemspring, the new fund was oversubscribed and closed at its hard cap after just three months of fundraising. Limited partners are composed of 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,” said Bret Wiener, the Managing Partner of Gemspring. “We are excited to execute on our operationally-focused investment strategy and help transform businesses to achieve their full potential.”

Gemspring invests in companies that have revenues from $25 million to $250 million. Sectors of interest include business and industrial services; distribution and logistics; healthcare services; specialty manufacturing; and media, technology and software. The firm is based in Westport, CT (www.gemspring.com).

acalyx-nf1Acalyx Advisors (www.acalyx.com) served as Gemspring’s placement agent. “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, a Partner and CEO of Acalyx.

Kirkland & Ellis – led by John Muno, Bruce Ettelson and Noah Mulli – served as legal counsel to Gemspring.

© 2016 Private Equity Professional • 11-9-16

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