Great Hill Partners Closes $7B PE Buyout Fund
Great Hill Partners announced the final close of Great Hill Equity Partners IX, L.P., securing $7 billion in commitments—well above its $5 billion target and reaching its hard cap just five months after the fund’s official launch. The oversubscribed vehicle marks the firm’s largest to date and follows Fund VIII, which closed in January 2022 at $4.65 billion.
As part of the fundraise, Great Hill appointed managing directors Chris Busby, Nick Cayer, Rafael Cofiño, and Drew Loucks to its executive committee, joining existing members Chris Gaffney, Mark Taber, and Matt Vettel. Longstanding executive committee member Michael Kumin will transition to senior advisor, where he will continue managing existing portfolio companies and remain active with prior funds.
Fund IX will maintain Great Hill’s middle-market growth buyout strategy, targeting investments of $100 million to $500 million in rapidly expanding companies across software, financial services, healthcare, consumer, and business services. The fund attracted a broad and diverse base of global LPs, including public and private pensions, sovereign wealth funds, endowments, foundations, insurance companies, healthcare systems, institutional fund managers, family offices, and high-net-worth individuals—many of whom are repeat investors in Great Hill funds.
Since its founding in 1998, Great Hill, headquartered in Boston with an office in London, has raised more than $19 billion across its strategies and invested in over 100 growth-oriented businesses.
Latham & Watkins LLP served as legal counsel on the fund formation.
Pictured: Great Hill Partners Executive Committee (from L-R): Mark Taber, Michael Kumin (Senior Advisor), Drew Loucks, Chris Gaffney, Matt Vettel, Chris Busby, Rafael Cofiño, and Nick Cayer.
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