Gemspring Capital, a Connecticut-based private equity firm specialising in lower middle market companies, has held the final closing of its debut fund, Gemspring Capital Fund I, with USD350 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,” says 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 served as exclusive placement adviser. “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,” says Jennifer Cho Rinehart, CEO of Acalyx.
John Muno, Bruce Ettelson and Noah Mullin of Kirkland & Ellis served as legal counsel to Gemspring.
