– Great Hill Partners announced the closing of Great Hill Equity Partners IX, L.P. with $7 billion in commitments
– Fund IX exceeded its $5 billion target and hard cap was reached five months after launch
– The raise was substantially oversubscribed
– Since 1998, Great Hill has raised over $19 billion in commitments
– New appointments to the Executive Committee: Chris Busby, Nick Cayer, Rafael Cofiño, and Drew Loucks
– They join existing members Christopher Gaffney, Mark Taber, and Matt Vettel
– Michael Kumin transitions to Senior Advisor, retaining responsibilities for prior funds and current portfolio companies
– Fund IX follows Fund VIII, which closed in January 2022 with $4.65 billion
– Strategy continues focus on middle-market growth buyouts in software, financial services, healthcare, consumer, and business services sectors
– Investor base spans North America, Europe, Asia, Middle East, South America, and Australia
– LPs include public/private pensions, sovereign wealth funds, endowments, foundations, insurance companies, healthcare systems, institutional fund managers, family offices, and high net worth individuals
– Many investors have committed to prior Great Hill funds
– Mary Kate Bertke, Managing Director and Head of Investor Relations, expressed gratitude for investor support and emphasized partnership with entrepreneurs and management teams
– Latham & Watkins LLP advised on Fund IX formation
