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

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