We are delighted to announce the formation of Gemspring Capital Fund III (“Fund III”) at $1.7 billion. Fund III, Gemspring’s third buyout fund, held its first and final close at the hard cap on all institutional limited partner commitments. The Gemspring team themselves commit substantial capital to each Gemspring funds and were the largest commitment in Fund III. Gemspring’s predecessor buyout fund, Fund II, closed on $785 million in 2020 and its inaugural buyout fund closed on $355 million in 2016.
“We are grateful for the overwhelming support from both existing and new limited partners,” remarked Bret Wiener, Managing Partner of Gemspring. “With fresh capital, we are well-positioned for a market environment which will likely yield an abundance of opportunities in line with our value-oriented and transformational growth investment strategy.”
Gemspring III secured commitments from a global, diversified investor base comprised of leading pension funds, endowments, foundations, family offices, asset management firms, and financial institutions. The fundraise concludes a productive twelve months for Gemspring with investments, acquisitions, and exits representing over $1.6 billion of total enterprise value. Since inception, Gemspring has completed 25 platform investments, 41 add-on acquisitions, and has grown to a team of over 50 people.
Asante Capital Group acted as global fundraising adviser, while Kirkland & Ellis LLP served as legal counsel.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $3.4 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. For more information, visit www.gemspring.com.
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