Gemspring Capital closes second fund at US $750M

CPE News (3/30/2020) – Gemspring Capital, a lower middle-market private equity firm, has closed its second fund, Gemspring Capital Fund II, with US $750 million of capital commitments.

LPs include endowments, foundations, family offices, consultants, insurance companies, pension plans and funds of funds. Each of Gemspring’s institutional investors from its first fund, which closed in 2016, committed to Fund II.

Westport, Connecticut based Gemspring Capital, with US $1.1 billion of capital under management, provides flexible capital solutions to lower middle market companies headquartered in the United States and Canada.

In February 2020, Gemspring Capita’s portfolio company, Crafty Apes, a full-service visual effects company with studios in Los Angeles, Atlanta and New York, acquired North Vancouver, BC based CVD VFX, an award-winning full service visual effects studio from founder Chris Van Dyck.

photo credit: Gemspring Capital

News Release

Gemspring Capital Closes Its Second Fund With $750 Million

March 30, 2020 04:28 PM Eastern Daylight Time

WESTPORT, Conn.–(BUSINESS WIRE)–Gemspring Capital, a lower middle-market private equity firm, announced the formation of its second fund, Gemspring Capital Fund II (“Fund II”), with $750 million of capital commitments.

Gemspring secured commitments for Fund II from a globally diversified investor base comprised of leading endowments, foundations, family offices, consultants, insurance companies, pension plans and funds of funds. Each of Gemspring’s institutional investors from its first fund, which closed in 2016, committed to Fund II.

Acalyx Advisors Inc. served as exclusive placement advisor and Kirkland & Ellis LLP served as legal counsel.

About Gemspring Capital

Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.1 billion of capital under management, provides flexible capital solutions to lower middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the business services, distribution and logistics, financial and insurance services, healthcare services, industrial services, software and tech-enabled services or specialty manufacturing sectors. For more information, visit www.gemspring.com.

Contacts

Bret Wiener
bret@gemspring.com