Gemspring Capital Raises $350M For Debut Buyout Fund

Nov 4 2016 | 9:45pm ET

Gemspring Capital has closed its inaugural buyout fund at its hard cap of $350 million in capital commitments. 

The new fund, named Gemspring Capital Fund LP, was oversubscribed, the company said in a statement. It closed less than three months after launching in August, attracting rapid attention from a global base of investors including endowments, foundations, family offices, gatekeepers, pension plans and fund of funds. 

The new fund will seek opportunities in U.S. or Canadian firms with up to $250 million in revenue and in the business services, industrial services, distribution and logistics, healthcare services, specialty manufacturing, media, technology or software sectors.

Acalyx Advisors served as the placement agent, Gemspring said, while Kirkland & Ellis LLP served as legal counsel.

“We could not be more pleased with the support and quality of our investors and the efficiency of the fundraising process,” commented 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.”

Founded in 2015 by former H.I.G. Capital executive Bret Wiener, Westport-based Gemspring focuses on control and structured equity investments in lower middle market companies.

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