HighVista Raises $800M for 11th Lower Mid-Market PE Fund
HighVista Strategies announced the successful close of $800 million of capital commitments for HighVista Private Equity Fund XI, L.P., surpassing its $725 million target. Fund XI follows HighVista Private Equity X, which closed on $675 million in May 2024, focused on the lower middle market
Following a strong first close in December 2025, the fundraise concluded with broad support from longstanding investors, reflected in a very high re-up rate, alongside commitments from new limited partners.
Like its predecessor funds, Fund XI will invest in a diversified pool of small, privately held U.S. companies, generally with enterprise values below $150 million. The fund will pursue a deliberate mix of primary fund commitments to sub-$500 million specialist private equity sponsors, direct co-investments alongside funded and independent sponsors, and selective purchases of lower middle market secondary interests.
“We continue to see many attractive opportunities to invest in family and founder-owned businesses in the U.S.” said John Dickie, co-head of private equity at HighVista. “The expansion of the small and emerging manager ecosystem, combined with the significant evolution of the independent sponsor universe, creates a robust pipeline for Fund XI.”
Additionally, HighVista hired Woody Hamilton as VP and admitted three Managing Directors – Whit Matthews, Rob Nagle, and Ryan Tiffany – as Partners.
Based in Boston and founded in 2004, HighVista manages $11 billion of capital.