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Gemspring Capital has just named its third new managing director this year

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Mid-market PE firm Gemspring Capital has named yet another managing director this year through the hire of The Riverside Company‘s Matt Reynolds.

At Riverside Reynolds was responsible for all aspects of the investment process, including sourcing, structuring and executing non-control investment opportunities, as well as post-investment collaboration with portfolio company management teams to implement growth plans.

He was previously with lower mid-market buyout house Veronis Suhler Stevenson and began his career as an investment banking analyst in the media and telecommunications group at Merrill Lynch, where he worked on M&A, leveraged finance and equity capital transactions.

Bret Wiener, managing partner of Gemspring Capital, said, “We are excited to welcome Jay to the team. His entrepreneurial drive and deep experience partnering with founders further enhance our transaction execution and value creation capabilities.”

Earlier this year Gemspring promoted Ravdeep Chanana to managing director after five years with the firm, and followed that with the hire of former CI Capital senior exec Zubin Malkani as a managing director.

Connecticut-based Gemspring Capital has $1.5bn of capital under management. It targets companies with up to $500m in revenue and focuses in aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors.

Gemspring scored a huge fund size increase in March 2020 through the $750m final close of its sophomore investment vehicle.

The firm held an already impressive $350m first close for its debut fund in 2016, a year after it was launched by HIG Capital veteran Weiner.

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