Great Hill raises $2.5 bln for seventh buyout fund


VCJ venture Fundraising
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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.