Fund was Substantially Oversubscribed, Demonstrating Significant Confidence in the Firm’s Long-Term Strategy
Great Hill Partners (“Great Hill” or the “Firm”), a private equity firm that invests in high-growth, disruptive companies, today announced the closing of Great Hill Equity Partners IX, L.P. (the “Fund” or “Fund IX”), with commitments totaling $7 billion, significantly exceeding its $5 billion target. The fundraise was substantially oversubscribed and reached its hard cap five months after its formal launch. Great Hill has now raised funds with over $19 billion in commitments since 1998.
In connection with the commencement of the Fund, longtime Great Hill Managing Directors Chris Busby, Nick Cayer, Rafael Cofiño, and Drew Loucks have been appointed to the Firm’s Executive Committee and will serve alongside existing members Chris Gaffney, Mark Taber, and Matt Vettel. Executive Committee member Michael Kumin will transition to Senior Advisor, maintaining his responsibilities as they relate to prior funds and continuing to actively manage his existing portfolio companies.
“The strong interest in Fund IX and its rapid fundraise are a testament to the talent and efforts of the entire Great Hill team as well as our innovative portfolio company management teams who continue to drive growth and generate value for our limited partners,” said Great Hill’s Executive Committee. “We are honored by the trust and confidence our investors have placed in us to identify transformative opportunities across our core areas of focus. Our team’s deep sector expertise, hands-on value creation, and collaborative approach will continue to be the cornerstone of our strategy as we help our portfolio companies scale and thrive.”
Fund IX is the successor to Great Hill Equity Partners VIII, which closed in January 2022 with total commitments of $4.65 billion. Consistent with its predecessor funds, Fund IX will continue the Firm’s well-established middle-market growth buyout strategy, targeting investments in rapidly growing companies across the software, financial services, healthcare, consumer, and business services sectors.
Commitments to the Fund were secured from investors across North America, Europe, Asia, Middle East, South America, and Australia, and include public and private pensions, sovereign wealth funds, endowments and foundations, insurance companies, healthcare systems, institutional fund managers, family offices, and high net worth individuals, many of whom have invested in prior Great Hill funds.
“We are incredibly grateful for the support of our limited partners, both those who have been with us for years and those joining us for the first time,” said Mary Kate Bertke, Managing Director and Head of Investor Relations at Great Hill. “As stewards of this fresh capital, our investment team looks forward to thoughtfully deploying it by partnering with entrepreneurs, founders, and management teams leading some of the most cutting-edge businesses across North America and Europe.”
Latham & Watkins LLP advised Great Hill on the Fund formation.
About Great Hill Partners
Founded in 1998, Great Hill Partners is a private equity firm targeting investments of $100 million to $500 million in high-growth companies across the software, financial services, healthcare, consumer, and business services sectors. With offices in Boston and London, Great Hill has raised funds with over $19 billion in commitments and invested in more than 100 companies since 1998, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, ranking in the top five of HEC Paris-Dow Jones' Mid-Market and Large Buyout Performance Ranking lists consecutively for the four most recent years published (2021–2024). For more information, including a list of all Great Hill investments, please visit www.greathillpartners.com.
Disclaimer: Great Hill Partners did not provide any compensation to HEC Paris-Dow Jones to be considered for any of these rankings.
