Gemspring Capital Management, a Connecticut-based private equity firm with $3.4 billion of capital under management, has announced the formation of Gemspring Capital Fund III (Fund III) at $1.7 billion, and Gemspring Growth Solutions Fund I (GGS) at $400 million, totaling $2.1 billion in aggregate capital commitments.
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 makes substantial investments in all Gemspring funds and was the largest commitment in Fund III. Gemspring’s predecessor buyout fund, Fund II, closed at $785 million in 2020 and its inaugural buyout fund closed at $355 million in 2016. GGS I, Gemspring’s first non-control fund, was oversubscribed and closed in 2022.
“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 grow
