# Gemspring Capital Management, LP

> Gemspring Capital Management, LP is an SEC-registered investment advisory firm in Westport, CT, registered since 2016, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 285081
- Filed as: GEMSPRING CAPITAL MANAGEMENT, LP
- Also doing business as: GEMSPRING CAPITAL II, LLC, GEMSPRING CAPITAL III, LLC, GEMSPRING CAPITAL, LLC, GEMSPRING GROWTH I, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Westport, CT
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/285081
- AdvisorCensus page: https://advisorcensus.com/firm/gemspring-capital-management-lp-westport-ct-285081

## Quick answers

**How is Gemspring Capital Management, LP compensated?**
On its Form ADV (Item 5.E, October 2026), Gemspring Capital Management, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Gemspring Capital Management, LP located?**
Gemspring Capital Management, LP's principal office is in Westport, CT, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Gemspring Capital Management, LP registered with the SEC or a state?**
Gemspring Capital Management, LP is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 285081.

**How much does Gemspring Capital Management, LP manage?**
Gemspring Capital Management, LP reports $5,140,364,797 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Gemspring Capital Management, LP's assets and staff changed since 2021?**
In the Form ADV data for Gemspring Capital Management, LP: Regulatory assets under management: $1,244,889,978 in the October 2021 data and $5,140,364,797 in the October 2026 data, up 313%. Total employees: 34 in October 2021 and 81 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Gemspring Capital Management, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (15).

**Does Gemspring Capital Management, LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/285081

**What changed in Gemspring Capital Management, LP's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $3,703,365,225 to $5,140,364,797 (+39%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $5,140,364,797
- Discretionary: $5,140,364,797
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 15 | $5,140,364,797 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2016 (10 years)
- Employees: 81 total, 49 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CT
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Los Angeles, CA

### Websites listed on Form ADV (Item 1.I)
- gemspring.com
- LinkedIn @gemspring-capital

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,244,889,978 | 34 | March 30, 2021 |
| October 2022 | $1,963,952,449 | 37 | June 7, 2022 |
| October 2023 | $2,073,143,388 | 52 | May 1, 2023 |
| October 2024 | $4,053,787,867 | 64 | March 29, 2024 |
| October 2025 | $3,758,913,806 | 69 | March 29, 2025 |
| October 2026 | $5,140,364,797 | 81 | March 31, 2026 |

Regulatory assets under management: $1,244,889,978 in the October 2021 data and $5,140,364,797 in the October 2026 data, up 313%.
Total employees: 34 in October 2021 and 81 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $3,703,365,225 to $5,140,364,797 (+39%).
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Changed its legal name from Gemspring Capital Management, LLC to Gemspring Capital Management, LP.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Gemspring Capital Management, LP (CRD 285081): Form ADV filing data as of October 2026.