# NewSpring Capital

NewSpring Capital is a Private Equity based in Radnor, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Radnor, United States
- **Region:** North America
- **Address:** 555 E. Lancaster Ave, 3rd Floor, Radnor, PA 19087, United States
- **Founded:** 1999
- **Assets under management:** $3.5bn+ (per the firm, 2026)
- **Website:** newspringcapital.com
- **LinkedIn:** https://www.linkedin.com/company/newspring-capital

## Regulatory record

- **CRD number:** 160608
- **SEC file number:** 801-73849
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/160608

## About

NewSpring Capital is an SEC-registered investment adviser in Radnor, PA, registered since 2012. It manages approximately $3.3 billion in regulatory assets. The firm has 76 employees and 54 investment advisers.

## Sectors

- Enterprise Software
- Healthcare Services
- Consumer Products/Services
- Manufacturing/Distribution
- Business Services
- Franchising

## Offices

- Baltimore, MD
- New York, NY

## People

- Michael DiPiano — Managing General Partner
- Jon Schwartz — President & Chief Operating Officer
- Brian G. Murphy — Chairman, Healthcare Strategy
- Mike Kubacki — CFO

## Questions

### Who sets investment strategy at NewSpring?

Michael DiPiano, the firm's founder, leads the partnership as Managing General Partner and shapes the top-level investment direction. However, each of the five strategies maintains its own leadership team with sector-specific general partners, which distributes day-to-day decision-making authority. The firm does not publicly disclose a formal investment committee structure.

### Does NewSpring invest as a fund-of-funds or only through direct deals?

NewSpring is a direct investor. The firm's five strategies cover growth equity, healthcare services, mezzanine financing, control/structured equity through its holdings arm, and franchise investments — all of which deploy capital directly into operating companies. There is no disclosed fund-of-funds program.

### What does NewSpring's mezzanine strategy offer that a conventional private credit fund would not?

The mezzanine arm provides flexible capital that fuels growth, supplies liquidity, supports acquisitions, and aims to unlock long-term value, according to the firm's disclosure. NewSpring emphasizes operator-heavy support alongside the financing, which distinguishes it from credit shops that rely primarily on structuring and covenants. The firm partners with both companies and sponsors in this strategy.

### How does the NewSpring Foundation relate to the investment firm, and are there commingled resources?

The NewSpring Foundation is a separate philanthropic vehicle formed to support education and arts programs in the Philadelphia region, with a mission centered on alleviating the cycle of poverty. The firm states the foundation complements its business activity, but it has not publicly detailed the governance walls or resource-sharing arrangements between the foundation and the management company.

## Related profiles

- [New Sparta Asset Management](https://altss.com/profile/new-sparta-asset-management)
- [Newsquest Pension Scheme](https://altss.com/profile/newsquest-pension-scheme)

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Last updated: 2026-06-03T20:00:00.000Z

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