BOSTON, MA - June 1, 2015 - Great Hill Partners announced today the closing of the firm’s fifth investment fund, Great Hill Equity Partners V, L.P. The firm surpassed its target of $1.0 billion for Fund V, closing on $1.1 billion. Since its inception in 1998, Great Hill Partners has received a total of $3.8 billion in capital commitments across all funds.
Similar to Great Hill Partners’ prior funds, Fund V will seek opportunities to finance the acquisition, recapitalization, or expansion of rapidly growing middle market companies ranging in size from $25 million to $500 million. The firm’s growth buyout strategy is based on rigorous sector research, proactive origination, value-added company-building tactics, conservative use of leverage, and emphasis on exits to large strategic buyers.
Fund V received strong support from the firm’s core investors, with a significant majority of the commitments coming from existing limited partners. “We appreciate the ongoing support from our returning limited partners, and are particularly thankful for those investors who have been with us since Fund I. We are also grateful for our new investors and thank them for the opportunity to manage their capital. We recognize how competitive the private equity industry has become and take our responsibility, and their choice of Great Hill Partners, very seriously,” said Christopher Gaffney, Managing Partner at Great Hill Partners. “We currently have the strongest and deepest team that we’ve ever had at Great Hill Partners. We believe we are well-positioned to identify great businesses and deliver sustainable growth and value over the long term.”
Great Hill Partners’ most recent exits were the sale of Credibility Corp. to Dun & Bradstreet (NYSE:DNB) for approximately 10x invested capital, and the sale of Latisys Holdings, LLC to Zayo Group Holdings, Inc. (NYSE:ZAYO) for 4.2x invested capital. Great Hill Partners’ prior fund, Fund IV, has invested in 19 companies, and is posting strong performance bolstered by strategic sales to leading corporations including Aetna, Dell, Dun & Bradstreet, Johnson & Johnson, and Global Payments.
Great Hill Partners’ team of 25 investment professionals is led by Managing Partners Christopher Gaffney, John Hayes, Michael Kumin, Mark Taber, Matthew Vettel; Partner Christopher Busby; and CFO Laurie Gerber.
About Great Hill Partners
Great Hill Partners is a growth equity firm that has raised $3.8 billion in commitments since inception to finance the expansion, recapitalization, or acquisition of companies in a wide range of sectors in business-to-business and business-to-consumer industries including software, financial and healthcare technology, digital media, eCommerce, and internet infrastructure. Great Hill targets investments of $25 million to $150 million. For more information, please visit www.greathillpartners.com.