NewSpring Capital is based in Radnor, Pennsylvania and is a provider of private equity capital focused
primarily in the Mid-Atlantic region, but with operations and investments across the United States.
NewSpring Capital has satellite offices in Denver, Colorado and New York, New York, as well as an
employee in Chicago, IL, an employee in Towson, MD and an employee in San Francisco, CA. The Firm
began in 1999.
NewSpring Capital is a group of related investment advisers that together file a single registration. The filing
adviser is NSV II Management Company, LLC. The Relying Advisers are:
Commerce Health Capital, LLC;
NSG III Management Company, LLC;
NewSpring Mezzanine Capital Management, LLC;
NewSpring Holdings Management Company, LLC;
NSG IV Management Company, LLC;
NewSpring Mezzanine Capital Management III, LLC;
NSH III Management Company, LLC;
NSG V Management Company, LLC;
NewSpring Mezzanine Capital Management IV, LLC;
NewSpring Franchise Management Company, LLC;
NSH IV Management Company, LLC;
NewSpring Mezzanine Capital Management V, LLC;
NSF II Management Company, LLC; and
NewSpring Holdings Management Company II, LLC.
NewSpring Capital LLC is a partial direct or indirect owner of the investment advisers and supports the
advisory business with infrastructure. These entities are collectively referred to herein as “NewSpring
Capital”).
Michael A. DiPiano, Marc R. Lederman, Glenn T. Rieger, and NewSpring Capital LLC are the principal
owners of NSV II Management Company, LLC, NSG III Management Company, LLC, and NSG IV
Management Company, LLC. Michael A. DiPiano, Marc R. Lederman, and NewSpring Capital, LLC are
the principal owners of NSG V Management Company, LLC. Brian Murphy and NewSpring Capital LLC
are the principal owners of Commerce Health Capital, LLC. Steve Hobman, Andrew Panzo, and NewSpring
Capital LLC are the principal owners of NewSpring Mezzanine Capital Management, LLC. Steve Hobman,
Andrew Panzo, Greg Barger, and NewSpring Capital LLC are the principal owners of NewSpring Mezzanine
Capital Management III, LLC. Steve Hobman, Andrew Panzo, Greg Barger, Anne
Vazquez, and NewSpring
Capital LLC are the principal owners of NewSpring Mezzanine Capital Management IV, LLC and
NewSpring Mezzanine Capital Management V, LLC. Walter Maner, James Ashton, and NewSpring Capital
LLC are the principal owners of NewSpring Holdings Management Company, LLC. Walter Maner, James
Ashton, Lee Garber and NewSpring Capital are the principal owners of NewSpring Holdings Management
Company II, LLC. Brian Murphy, Kapila Ratnam, and NewSpring Capital, LLC are the principal owners
of NSH III Management Company, LLC and NSH IV Management Company, LLC. Satyakanth Ponnuru,
Patrick Sugrue, and NewSpring Capital, LLC are the principal owners of NewSpring Franchise
Management Company, LLC and NSF II Management Company, LLC.
As described more fully below, NewSpring Capital currently provides investment management services to
several pooled investment vehicles (the “Funds”), managed under different investment strategies, each of
which is offered to qualified investors exclusively on a “private placement” basis.
As of December 31, 2023, NewSpring Capital has approximately $3.07 billion of regulatory assets under
management (“RAUM”), all of which are managed on a discretionary basis. RAUM figures and other
information regarding the Entities are provided in Form ADV Part 1A.
NewSpring Capital does not tailor the investment decisions of the Funds to individual investors and
investors generally will not be able to impose restrictions on the Funds’ investments in certain securities or
types of securities.
The Funds offered by NewSpring Capital fall into the following five investment strategies: NewSpring
Growth, NewSpring Healthcare, NewSpring Mezzanine, NewSpring Holdings, and NewSpring Franchise.
Please see Item 8 for more information on these investment strategies and NewSpring Capital’s advisory
business. NewSpring may in its discretion add additional strategies in the future.
Please see the relevant Fund’s Confidential Private Placement Memorandum or similar offering document
(each, an “Offering Memorandum”) for additional details on the terms of an investment in that Fund.
NewSpring Capital does not participate in Wrap Fee Programs.