Gemspring Capital Management has closed its second non-control investment vehicle, Gemspring Growth Solutions Fund II LP (GGS II), with $1.1 billion in limited partner commitments. The new fund closed at its hard cap in its first and final close after only three months in the market.
GGS II follows Gemspring Growth Solutions I LP, which closed in January 2023 with an oversubscribed $400 million of capital.
Limited partners in the new fund include both US and international pension funds, endowments, family offices, asset managers, and other institutional investors. Members of Gemspring’s investment team also committed to the fund and, in the aggregate, represent the fund’s largest single commitment.
“We are grateful for the overwhelming support from both existing and new limited partners,” said Bret Wiener, the founder and chief executive officer of Gemspring. “Their commitment underscores the rising demand for flexible capital solutions that GGS II is designed to meet at scale.”
Gemspring invests in companies with revenues of up to $2 billion and that operate in the business services, consumer services, financial and insurance services, healthcare, industrial, software, and tech-enabled services sectors. The firm was founded in 2015 and has completed 128 acquisitions across its buyout and growth strategies.
With the close of GGS II, Gemspring’s total capital under management is now approximately $5 billion. The firm is headquartered in Westport, Connecticut, with additional offices in Los Angeles, Charlotte, and Columbus.
Sidley Austin provided legal services for the raising of GGS II.
© 2025 Private Equity Professional | October 8, 2025
