Boston-based Great Hill Partners, a private equity firm, has closed its seventh oversubscribed buyout fund at a hard cap of $2.5 billion, beating its $2 billion target.
Great Hill Equity Partners VII started fundraising this past February.
The fund will target growing middle-market companies. Its investors 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.
In February 2017, Great Hill raised $1.5 billion for its sixth private equity fund, beating its $1.25 billion target. No performance data was available on the fund.
Latham & Watkins LLP advised Great Hill on the fund formation.
According to the firm, Great Hill has raised $7.7 billion in commitments since its inception.