Great Hill Partners closed its eighth flagship fund on $4.65 billion, including the GP commitment. Great Hill launched fundraising in September and beat its initial $3.5 billion target. Great Hill activated Fund VIII in November.
Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies, today announced the completion of its fundraising for Great Hill Equity Partners VIII, L.P. (the “Fund”) with total commitments of $4.65 billion, inclusive of the General Partner commitment. The fundraise process was launched in September 2021, and the Fund was significantly oversubscribed, with demand exceeding the original $3.5 billion target. Great Hill has now raised over $12 billion in commitments since its founding.
Fund VIII, which commenced its investment period in November 2021, will continue to follow Great Hill’s investment strategy, targeting investments of up to $500 million in rapidly growing companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. The Fund is the successor to Fund VII, a $2.5 billion fund raised in 2019.
“We’re very pleased to announce the completion of our largest-ever fundraise, which will enable us to build on our strong momentum in a very compelling investment landscape,” said Managing Directors Christopher Gaffney, Michael Kumin, Mark Taber, and Matthew Vettel. “The successful raising of this fund is a testament to the talent and efforts of the entire Great Hill team as well as the execution and strong performance of the exceptional management teams and innovative companies in our portfolio. We are grateful for the support and trust that both returning and new limited partners have placed in us and look forward to deploying this new capital to back promising growth-stage companies and generate value for our limited partners.”
Commitments to the Fund were secured from a broad mix of U.S. and international investors, including public and private pensions, sovereign wealth funds, endowments and foundations, insurance companies, healthcare systems, institutional fund managers, family offices, and high net worth individuals, many of whom have invested in prior Great Hill Partners funds.
Latham & Watkins LLP advised Great Hill Partners on the fund formation.
About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. Over the past two decades, Great Hill has raised over $12 billion of commitments and invested in more than 90 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has recently been recognized for its industry leadership, being ranked #5 in the 2021 HEC – DowJones Private Equity Performance Ranking, which evaluated fund performance of 517 leading private equity firms between 2008 – 2017. For more information, including a list of all Great Hill investments, visit www.greathillpartners.com.