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Laxman Pai, Opalesque Asia: Boston-based private equity firm Great Hill Partners has closed its latest fund, Great Hill Equity Partners IX, at $7 billion-well above its $5 billion target-underscoring strong investor appetite for its strategy of backing high-growth, disruptive companies.
In a media release, the growth-focused firm announced that the fund was substantially oversubscribed, reaching its hard cap just five months after its launch. Since its founding in 1998, Great Hill has raised more than $19 billion across its funds.
With the launch of the new fund, longtime Managing Directors Chris Busby, Nick Cayer, Rafael Cofino, and Drew Loucks have joined Great Hill's Executive Committee, alongside existing members Chris Gaffney, Mark Taber, and Matt Vettel.
Meanwhile, Michael Kumin will transition from the committee to serve as Senior Advisor, continuing to oversee prior funds and actively manage his current 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 creat...................... To view our full article Click here
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