Ropes & Gray represented GEM in the formation and final close of GEM Independent Sponsors Fund II, LP, which closed at its hard cap with program commitments totaling $685 million. The fund close was announced on Oct. 22.
IS Fund II invests alongside independent sponsors in the lower middle market. It follows GEM's first independent sponsor fundraise of $450 million in 2025.
GEM is an independent investment management firm that provides customized solutions for long-term investors worldwide.
The team included asset management partners Leigh Fraser and Rachel O'Brien and tax partner Jim Brown.
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