DFX Intelligence
Private Equity Intelligence
Firms, funds, people, portfolio companies and transactions from sworn filings and cited announcements, kept as a graph with a date and a source on every edge. Reported gross assets are never fund size, regulatory AUM is never dry powder, and a deal value prints only when someone disclosed it.
Firms / Gemspring Capital Management, LLC
Gemspring Capital Management, LLC
Gemspring provides flexible capital solutions to lower middle market companies headquartered primarily in the United States and Canada. We partner with industry leaders with growth potential that will benefit from our support and expertise.
Classification
- Class
- Buyout firmconfirmed, confidence 85%
- Basis
- R6: 12 of 12 distinct vehicles are sworn Private Equity Funds; 12 reported gross assets on a filing in 2022 or later
- Size band
- Middle marketdefined by: proxy: $4.05bn Private Equity Fund GAV on the Form ADV filed 2024-10-10
- Strategies
- GROWTH EQUITY
Classification history (1)
- Sep 13, 2026Buyout firm (confirmed, 85%, cls-pe-1)R6: 12 of 12 distinct vehicles are sworn Private Equity Funds; 12 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
- Adviser type
- registered investment adviser
- Form ADV filings
- Sep 6, 2016 to Oct 10, 2024
- RAUM
- $4.1Bregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 12
- PE fund GAV, latest filing
- $4.1Breported gross assets (Form ADV), not fund size
- All private fund GAV
- $4.1Bevery private fund type, latest filing
- 2024 PE fund GAV
- $4.1Bsum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 100%
- Fund type mix
- filed 2024-10-10, latest gav Private Equity Fund $4.1B, latest counts Private Equity Fund 12, lifetime distinct Private Equity Fund 12
- Employees
- 64
- Headquarters
- Westport, CT
- Office address
- 54 WILTON ROAD, Westport, CT, 06880
- Business phone
- (203) 408-2851
Stated criteria beside observed behaviour
27 observed deals
Stated by the firm
- Sectors
- software, industrial services, industrials, distribution, technology, infrastructure, media telecom, manufacturing, healthcare, consumer, real estate, transportation logistics, education, environmental services, safety security, business services, automotive, financial services, energy, chemicals materials, aerospace defense, food beverage, packaging
- Geography
- Global, Europe
- Revenue
- not stated or not yet read
- EBITDA
- not stated or not yet read
- Enterprise value
- not stated or not yet read
- Equity check
- from $26B
- Control
- control,majority,minority
- Thesis
- We partner with industry leaders with growth potential that will benefit from our support and expertise.
Observed from deals on record
- roles
- add on 20, platform 7
- period
- to 2026-09-03, from 2023-01-04, undated holdings 6, dated observations 42
- window
- last 2026-09-03, first 2023-01-04
- control
- control 21, unknown 6
- companies
- 27
- geography
- count 3, share 0.111, value FL, count 1, share 0.037, value NJ, count 1, share 0.037, value MA, count 1, share 0.037, value TN
- investments
- 27
- seller kinds
- transactions
- 21
- cadence by year
- 2023 add ons 5, platforms 1, 2024 add ons 2, 2025 add ons 4, 2026 add ons 9
- platform add on
- add ons 20, platforms 7, add ons per platform 2.86
- sector known for
- 10
- disclosed value usd
- n 0
- sector distribution
- count 4, share 0.148, value tech enabled services, examples Net7, InflowCX, CORE Communications, Reverse IT B.V, count 2, share 0.074, value specialty distribution, examples Barcode Supply, LLC, Pegasus Supply Group, count 2, share 0.074, value life sciences, examples Choice Spine Holdings, Inc., Zavation Medical Products, count 1, share 0.037, value industrial services, examples Coastal Fire & Integration Systems, count 1, share 0.037, value business services, examples Airswift
- holding period years
- n 0
- repeat counterparties
- subsector distribution
- count 3, share 0.111, value it services, examples Net7, InflowCX, CORE Communications, count 2, share 0.074, value medical devices, examples Choice Spine Holdings, Inc., Zavation Medical Products, count 1, share 0.037, value fire and life safety services, examples Coastal Fire & Integration Systems, count 1, share 0.037, value staffing, examples Airswift, count 1, share 0.037, value professional equipment wholesale, examples Barcode Supply, LLC, count 1, share 0.037, value electrical electronic wholesale, examples Pegasus Supply Group, count 1, share 0.037, value endpoint device lifecycle services, examples Reverse IT B.V
27 companies on the graph (21 transactions); most in tech enabled services (4); 7 platforms and 20 add-ons; observed 2023 to 2026
n 6, kind geography, period to 2026-09-03, from 2023-01-04, undated holdings 6, dated observations 42, stated Global,Europe, observed share outside 1, observed outside stated FL 3, MA 1, NJ 1, TN 1
Funds
13 on record
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| Gemspring Capital Fund III, LP ADV: Private Equity Fund | buyout or unlabelled | 2023 first reported on Form ADV | $1.2B as of Oct 10, 2024 | no Form D | Unknown | |
| Gemspring Capital Fund Iii-A, LP ADV: Private Equity Fund | Feeder or parallel | 2023 first reported on Form ADV | $782M as of Oct 10, 2024 | no Form D | Unknown | |
| Gemspring Capital Executive Fund III, LP ADV: Private Equity Fund | Feeder or parallel | 2023 first reported on Form ADV | $32.0M as of Oct 10, 2024 | no Form D | Unknown | |
| Gemspring Growth Solutions I, LP ADV: Private Equity Fund | Growth fund | 2022 first reported on Form ADV | $319M as of Oct 10, 2024 | no Form D | Early deployment | |
| Gemspring Growth Solutions I-A, LP ADV: Private Equity Fund | Growth fund | 2022 first reported on Form ADV | $155M as of Oct 10, 2024 | no Form D | Early deployment | |
| Realspring Capital Fund I, LP ADV: Private Equity Fund | buyout or unlabelled | 2022 first reported on Form ADV | $53.9M as of Oct 10, 2024 | no Form D | Early deployment | |
| Gemspring Capital Fund II, LP ADV: Private Equity Fund | buyout or unlabelled | 2020 first reported on Form ADV | $637M as of Oct 10, 2024 | no Form D | Successor fundraising | |
| Gemspring Capital Fund Ii-A, LP ADV: Private Equity Fund | Feeder or parallel | 2020 first reported on Form ADV | $360M as of Oct 10, 2024 | no Form D | Mature | |
| Gemspring Capital Executive Fund II, LP ADV: Private Equity Fund | Feeder or parallel | 2020 first reported on Form ADV | $41.6M as of Oct 10, 2024 | no Form D | Successor fundraising | |
| Gemspring Capital Fund I, LP ADV: Private Equity Fund | buyout or unlabelled | 2016 first reported on Form ADV | $330M as of Oct 10, 2024 | no Form D | Unknown | |
| Gemspring Capital Fund I-A, LP ADV: Private Equity Fund | Feeder or parallel | 2016 first reported on Form ADV | $120M as of Oct 10, 2024 | no Form D | Unknown | |
| Gemspring Capital Executive Fund I, LP ADV: Private Equity Fund | Feeder or parallel | 2016 first reported on Form ADV | $17.9M as of Oct 10, 2024 | no Form D | Unknown | |
| Gemspring Second Growth Solutions Fund | buyout or unlabelled | unknown | unknown | no reporting | no Form D | Unknown |
Team
6 current, 1 former
Managing partner (1)
- Bret D Wiener · Founder And Ceo · since Oct 1, 2015 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Partner (2)
- Alex Funk · Managing Director · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Zubin Malkani · Managing Director · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
Principal (1)
- Chirag Hirawat · Principal · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
Platform (2)
- Andrew Seth Lerner · General Counsel And Chief Compliance Officer · since Feb 1, 2024 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- John Joseph Tucker · Chief Operating Officer · since Jan 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
1 former (kept with end dates)
- Malcolm Phillip Appelbaum · Chief Compliance Officer, Chief Financial Officer And Managing Director · Sep 1, 2016 to Feb 2, 2024 Inference
Portfolio
28 relationships, 7 platforms, 20 add-ons
Transactions
22 on record
Placement agents, lenders, advisers and co-investors
3 relationships
Placement agents (2)
- Acalyx Advisors Inc. 8 shared · very strong · last Jan 1, 2022
- Asante Capital Group Advisors LLC 2 shared · recurring · last Jan 1, 2023
Financial advisers (1)
- Lazard 1 shared · one time · last Oct 23, 2023
LP commitments
0 disclosed
No LP commitment collected yet. An LP edge needs a public disclosure with a quote, such as a pension plan’s report or an announcement naming the LP.
Events
11 most recent
- Sep 14, 2026airswift expands u s energy capabilities with acquisition of new tech global businesses
- Sep 14, 2026midland industries acquires pegasus supply group
- Sep 14, 2026trg expands european presence with acquisition of reverse it
- Sep 14, 2026gemspring capital announces partnership with key line construction and palouse power to create a leading utility infrastructure services platform
- Sep 14, 2026amplix strengthens technology advisory capabilities with acquisition of oneconnect
- Sep 14, 2026trg expands endpoint lifecycle capabilities with acquisition of barcode supply
- Sep 14, 2026amplix deepens technology expense management practice with acquisition of core communications
- Sep 14, 2026ampam expands integrated services platform with acquisition of coastal fire integration systems
- Mar 31, 2026Gemspring Capital Management, LP: Private Equity Funds on Form ADV 12 (2024 extract) -> 15 (roster 2026-09-01)
- Oct 23, 2023Gemspring Capital Acquires InflowCX and Combines with Portfolio Company Amplix to Create a Leading Provider of Technology Advisory ServicesPlatform investmentFactInflowCXPress release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Sep 6, 2016Gemspring Capital Management, LLC first filed Form ADV in the extract (IA)
Across the graphs
Gemspring Capital Management, LLC is the same institution as 2 records in Independent Sponsors and RIA and Wealth.
Independent Sponsors1RIA and Wealth1
Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.
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