DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
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SEC-registered adviser
G•••••••• C•••••• M••••••••• L•
Latest filing Mar 31, 2026
First filing on the tape Sep 6, 2016 · 22 filings
SEC status approved since Sep 9, 2016
RAUM
$5.1B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
81
49 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
15
reported on Schedule D
History
22 filings and snapshots on the tape
RAUM$5.1B as of Mar 31, 2026
Mar 29, 2017$354M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 29, 20170 then
Employees (5.A)81 as of Mar 31, 2026
Mar 29, 20179 then
Private funds15 as of Mar 31, 2026
Mar 29, 20173 then
RAUM +37% over the last fiscal year+35% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
- RAUM per advisor
- unknownderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $343MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +37%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for pooled vehiclesreportedItem 5.G
- Custody
- $5.1B, 15 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$5.1B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 15reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $5.1B for 15 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
12 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| G•••••••• C•••••• F••• I••• L• | Private Equity Fund | $1.2B | 66 | Mar 31, 2023 |
| G•••••••• C•••••• F••• I••••• L• | Private Equity Fund | $782M | 64 | Mar 31, 2023 |
| G•••••••• C•••••• F••• I•• L• | Private Equity Fund | $637M | 24 | Mar 30, 2020 |
| G•••••••• C•••••• F••• I•••• L• | Private Equity Fund | $360M | 26 | Mar 30, 2020 |
| G•••••••• C•••••• F••• I• L• | Private Equity Fund | $330M | 23 | Dec 27, 2016 |
| G•••••••• G••••• S•••••••• I• L• | Private Equity Fund | $319M | 24 | Mar 31, 2022 |
| G•••••••• G••••• S•••••••• I••• L• | Private Equity Fund | $155M | 17 | Mar 31, 2022 |
| G•••••••• C•••••• F••• I••• L• | Private Equity Fund | $120M | 16 | Dec 27, 2016 |
| R••••••••• C•••••• F••• I• L• | Private Equity Fund | $53.9M | 30 | Mar 31, 2022 |
| G•••••••• C•••••• E•••••••• F••• I•• L• | Private Equity Fund | $41.6M | 60 | Mar 30, 2020 |
| G•••••••• C•••••• E•••••••• F••• I••• L• | Private Equity Fund | $32.0M | 59 | Mar 31, 2023 |
| G•••••••• C•••••• E•••••••• F••• I• L• | Private Equity Fund | $17.9M | 47 | Dec 27, 2016 |
Owners and control persons
Schedule A and B, latest filing
- W•••••• B•••• D•••• · Founder And Ceocontrolsince 10/2015 · owns 75% or more
- L•••••• A•••••• S••• · General Counsel And Chief Compliance Officersince 02/2024 · owns less than 5%
- T•••••• J•••• J••••• · Chief Operating Officersince 01/2021 · owns less than 5%
Related persons
Schedule D 7.A
- G•••••••• C•••••• E•••••••• G• I• L••pooled vehicle sponsorn
- G•••••••• C•••••• E•••••••• G• I•• L••pooled vehicle sponsorn
- G•••••••• C•••••• E•••••••• G• I••• L••pooled vehicle sponsorn
- G•••••••• C•••••• G•••••• G•• L•pooled vehicle sponsorn
- G•••••••• C•••••• G• I• L•pooled vehicle sponsorn
- G•••••••• C•••••• G• I•• L•pooled vehicle sponsorn
- G•••••••• C•••••• G• I••• L•pooled vehicle sponsorn
- G•••••••• G••••• S•••••••• G• I• L•pooled vehicle sponsorn
- R••••••••• C••••••• L••pooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
- Los Angeles, CA6 employees
What changed
consecutive filings, newest first
- Accounts · 12 to 15Jan 9, 2026 to Mar 31, 2026
- Pooled vehicle clients · 12 to 15Jan 9, 2026 to Mar 31, 2026
- Assets in custody · $3.7B to $5.1BJan 9, 2026 to Mar 31, 2026
- Employees · 69 to 81Jan 9, 2026 to Mar 31, 2026
- Private funds · 12 to 15Jan 9, 2026 to Mar 31, 2026
- Discretionary RAUM · $3.7B to $5.1BJan 9, 2026 to Mar 31, 2026
- Pooled vehicle RAUM · $3.7B to $5.1BJan 9, 2026 to Mar 31, 2026
- RAUM · $3.7B to $5.1BJan 9, 2026 to Mar 31, 2026
- Accounts · 13 to 12Sep 25, 2025 to Jan 9, 2026
- Business name · G•••••••• C•••••• M••••••••• L•• to G•••••••• C•••••• M••••••••• L•Sep 25, 2025 to Jan 9, 2026
- Pooled vehicle clients · 13 to 12Sep 25, 2025 to Jan 9, 2026
- Assets in custody · $3.8B to $3.7BSep 25, 2025 to Jan 9, 2026
- Legal name · G•••••••• C•••••• M••••••••• L•• to G•••••••• C•••••• M••••••••• L•Sep 25, 2025 to Jan 9, 2026
- Organization form · Limited Liability Company to Limited PartnershipSep 25, 2025 to Jan 9, 2026
- Private funds · 13 to 12Sep 25, 2025 to Jan 9, 2026
- Discretionary RAUM · $3.8B to $3.7BSep 25, 2025 to Jan 9, 2026
- Pooled vehicle RAUM · $3.8B to $3.7BSep 25, 2025 to Jan 9, 2026
- RAUM · $3.8B to $3.7BSep 25, 2025 to Jan 9, 2026
- Accounts · 12 to 13Oct 10, 2024 to Mar 29, 2025
- Advisory employees · 42 to 49Oct 10, 2024 to Mar 29, 2025
- Pooled vehicle clients · 12 to 13Oct 10, 2024 to Mar 29, 2025
- Assets in custody · $4.1B to $3.8BOct 10, 2024 to Mar 29, 2025
- Employees · 64 to 69Oct 10, 2024 to Mar 29, 2025
- Financial planning clients · unset to Oct 10, 2024 to Mar 29, 2025
- Private funds · 12 to 13Oct 10, 2024 to Mar 29, 2025
- Discretionary RAUM · $4.1B to $3.8BOct 10, 2024 to Mar 29, 2025
- Pooled vehicle RAUM · $4.1B to $3.8BOct 10, 2024 to Mar 29, 2025
- RAUM · $4.1B to $3.8BOct 10, 2024 to Mar 29, 2025
- Accounts · 11 to 12Feb 2, 2024 to Mar 29, 2024
- Advisory employees · 40 to 42Feb 2, 2024 to Mar 29, 2024
- Pooled vehicle clients · 11 to 12Feb 2, 2024 to Mar 29, 2024
- Assets in custody · $2.1B to $4.1BFeb 2, 2024 to Mar 29, 2024
- Employees · 52 to 64Feb 2, 2024 to Mar 29, 2024
- Other offices · 3 to 1Feb 2, 2024 to Mar 29, 2024
- Discretionary RAUM · $2.1B to $4.1BFeb 2, 2024 to Mar 29, 2024
- Pooled vehicle RAUM · $2.1B to $4.1BFeb 2, 2024 to Mar 29, 2024
- RAUM · $2.1B to $4.1BFeb 2, 2024 to Mar 29, 2024
- Accounts · 9 to 11Jun 7, 2022 to Mar 31, 2023
- Advisory employees · 25 to 40Jun 7, 2022 to Mar 31, 2023
- Pooled vehicle clients · 9 to 11Jun 7, 2022 to Mar 31, 2023
Signals
7 dated events
- G•••••••• C•••••• M••••••••• L• reported RAUM $5.1B, up 39% from $3.7B (2026-01-09 to 2026-03-31)Mar 31, 2026 · RAUM change · derived
- G•••••••• C•••••• M••••••••• L• reported RAUM $4.1B, up 96% from $2.1B (2024-02-02 to 2024-03-29)Mar 29, 2024 · RAUM change · derived
- Phillip Malcolm Appelbaum (Chief Compliance Officer, Chief Financial Officer And Managing Director) no longer on Schedule A of G•••••••• C•••••• M••••••••• L• (listed 2023-05-01, absent 2024-02-02)Feb 2, 2024 · Control person left · inference
- G•••••••• C•••••• M••••••••• L• reported RAUM $2.0B, up 58% from $1.2B (2021-11-01 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- G•••••••• C•••••• M••••••••• L• reported RAUM $1.2B, up 146% from $505.4M (2020-03-30 to 2021-03-30)Mar 30, 2021 · RAUM change · derived
- G•••••••• C•••••• M••••••••• L• reported RAUM $505.4M, up 27% from $396.4M (2019-03-27 to 2020-03-30)Mar 30, 2020 · RAUM change · derived
- G•••••••• C•••••• M••••••••• L•• filed its initial SEC registration (Form ADV)Sep 6, 2016 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- G•••••••• C•••••• M••••••••• L• · Independent Sponsorsshared crd · capital_provider
- G•••••••• C•••••• M••••••••• L•• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/gemspring-capitalreportedpublic record, Form ADV, Sep 18, 2026
- Website
- gemspring.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- (203) 842-8886reportedpublic record, Form ADV, Mar 31, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
- RAUM per advisor
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026