Wellspring Capital — funds, providers and filings

The US-reported view

The sections below draw on US regulatory filings — SEC Form ADV and Form D — and on US investors' own disclosures. They set out Wellspring Capital's US-reported slice: the funds, service providers, domiciles and activity visible in US filings, not its worldwide business.

1. US-SEC private funds

This page reports $4.5bn of gross asset value across 19 private funds that Wellspring Capital reports on SEC Form ADV, filings through 2024. It does not report firm-wide assets under management, a different measure on a different basis.

A worldwide fund-vehicle roll-up is not available from the entity register for this manager.

2. Service providers

EY audits 19 of the 19 Wellspring Capital funds that name an auditor on Form ADV Schedule D, filings through 2024 — more than any other firm. Ultimus Leverpoint administers 3 of the 4 that name an administrator, on the same filings. Relationships the filings attribute to Wellspring Capital's own group are part of its structure, not third-party appointments, and are left out of these counts.

Across the funds that disclose each role on Schedule D — the count is funds naming that provider, of funds disclosing the role at all:

3. Fund domiciles

10 of Wellspring Capital's 19 SEC-reported private funds are domiciled in Delaware, its largest single domicile on Form ADV, filings through 2024. Cayman Islands is next, and the bars below give the rest in order.

4. Fund performance

Every figure here is a disclosing pension plan's own, on that plan's own reporting date. Nothing is blended into a manager-level return, because no plan published one.

Per-fund net IRR, multiple and DPI as disclosed by the pension plans invested in the funds — the LPs' own numbers, on their own dates, not the manager's. One row per plan disclosure. Where two plans hold the same fund and report different numbers, both rows show, with their dates:

Young vintages sit in the J-curve: an early negative IRR mostly reflects fees drawn before value is realised, and is not a verdict on the fund.

5. Known LP investors, from their own disclosures

Oregon OPERF (4), Minnesota SBI (1), NYC Police (1), Washington WSIB (1) — the count is this manager's funds appearing in that plan's disclosure.

6. Management entities

Wellspring Capital files Form ADV through 2 management entities; the largest is Wellspring Capital Management LLC, CRD 161184 of New York, with 13 of the 19 funds on this page. Every figure above rolls those filers up into one business. The table below traces each of them back to the entity that filed it, so a number can be checked against its own record rather than taken on trust.

7. Similar managers

• Crescent Capital — also names EY as auditor on 61 of its funds (its Form ADV)
• Menlo Ventures — also names EY as auditor on 20 of its funds (its Form ADV)
• Trilantic Capital — also names EY as auditor on 29 of its funds (its Form ADV)
• Lexington Partners — also names EY as auditor on 110 of its funds (its Form ADV)
• Peak Rock Capital — also names EY as auditor on 22 of its funds (its Form ADV)
• Warburg Pincus — also names EY as auditor on 222 of its funds (its Form ADV)