Boston-based private equity firm Great Hill Partners has closed its sixth fund at a hard cap of $1.5 billion, beating its $1.25 billion target. Great Hill Equity Partners VI LP launched last September. The fund will focus on acquiring, recapitalizing and expanding middle-market companies whose revenues range between $25 million and $500 million. Latham & Watkins LLP advised Great Hill on the fund. No placement agent was used.
BOSTON, Feb. 1, 2017 /PRNewswire/ — Great Hill Partners announced today the first and final closing of the firm’s sixth private equity fund, Great Hill Equity Partners VI, L.P., at its hard cap of $1.5 billion of limited partner commitments. The fund had a target of $1.25 billion, and the firm began fundraising in late September 2016.
Similar to Great Hill Partners’ prior funds, Fund VI will seek opportunities to finance the acquisition, recapitalization, or expansion of rapidly growing middle market companies ranging in size from $25 million to $500 million. The firm’s growth buyout strategy is based on rigorous sector research, proactive origination, value-added company-building tactics, conservative use of leverage, and emphasis on exits to large strategic buyers.
Since its inception in 1998, Great Hill Partners has raised $5.3 billion in capital commitments across all funds. Fund VI will be invested by Great Hill Partners’ team of 25 investment professionals, led by Managing Partners Christopher Gaffney, Michael Kumin, Mark Taber, Matthew Vettel; Partners Christopher Busby, Nick Cayer, Rafael Cofiño, Peter Garran; and CFO Laurie Gerber.
Latham & Watkins LLP advised Great Hill on the fundraise. The firm did not work with a placement agent.
About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm that has raised over $5 billion in commitments since inception to finance the acquisition, recapitalization, or expansion of rapidly growing middle market companies in a wide range of sectors within the business and consumer services, healthcare, media, communications and software industries. Great Hill targets investments of $25 million to $150 million. For more information, visit www.greathillpartners.com.