Wellspring Hits Fund VI Hard-Cap

Wellspring Capital Management has closed Wellspring Capital Partners VI LP at its hard cap of $1.4 billion.  The firm’s earlier fund closed in 2011 with $1.2 billion of capital.

Limited partners in Fund VI include pension funds, endowments, fund of funds and family offices from the US, Europe and Asia. With this closing, Wellspring now has more than $4.4 billion of assets under management.

“My partners and I are pleased to complete the successful raising of Wellspring’s sixth fund, which is a direct result of the strong relationships we have built with the investment community over many years and the returns we have generated,” said William Dawson, Jr., Chief Executive Officer of Wellspring. “Our returning and new limited partners share our belief in the unique value proposition that Wellspring brings to the investment process, with our focus on strategic partnership and tailored approach to each investment.  We look forward to carrying forward that vision and continuing our success in the years ahead.”

Wellspring invests across a range of industries and typically pursues transactions ranging from $100 million to as much as $1.5 billion in enterprise value. The firm is active with buyouts of private companies, acquisitions of divisions or subsidiaries of public companies, and going-private transactions; partnering with entrepreneurs to provide capital and guidance for expansion; purchasing equity from shareholders of family-owned businesses for financial planning needs; and acquiring companies or divisions of larger companies out of bankruptcy or restructuring. The firm was founded in 1995 and is based in New York (www.wellspringcapital.com).

Probitas Partners (www.probitaspartners.com) was the placement agent for this fundraise. Paul, Weiss, Rifkind, Wharton & Garrison (www.paulweiss.com) provided legal services to Wellspring.

© 2018 Private Equity Professional | January 10, 2018

Print Friendly, PDF & Email

Related Articles

Abacus Backs River’s Buy of GAHH Abacus Finance Group was the Administrative Agent and Lead Arranger for $22 million in senior secured credit facilities to support the recent acquisit...
New Partner at Trive Capital Trive Capital has promoted Blake Bonner to Partner. Mr. Bonner’s responsibilities include identifying and evaluating investment opportunities, perform...
Genstar Promotes Two Genstar Capital has promoted Geoff Miller to Director and Rob Clark to Principal. “We are pleased to announce the promotions of Geoff and Rob,” sai...
New Managing Director at Grey Mountain Grey Mountain Partners has promoted Beth Lesniak to Managing Director. Ms. Lesniak joined Grey Mountain in 2009 and she is active in all areas of t...
The Seller’s Market Continues High valuations and abundant use of debt continued to mark completed deal activity in the first quarter of 2018, according to GF Data’s just-released ...
Drew Meyers Rejoins Seaport Seaport Capital has added Drew Meyers to its investment team as a new partner. Mr. Meyers previously worked at Seaport from 2001 to 2007. We are ex...