Great Hill Partners has announced the close of its ninth growth buyout fund, Great Hill Equity Partners IX, L.P., with $7 billion in committed capital. The fund significantly exceeded its $5 billion target and reached its hard cap just five months after launch, reflecting strong investor confidence in the firm’s long-term strategy. This brings Great Hill’s total capital raised since its founding in 1998 to more than $19 billion.
Fund IX will continue the firm’s established middle-market growth buyout approach, targeting investments of $100 million to $500 million in high-growth companies across software, financial services, healthcare, consumer, and business services. The fund attracted commitments from a global base of investors, including pensions, sovereign wealth funds, endowments, insurance companies, healthcare systems, institutional managers, family offices, and high-net-worth individuals—many of whom have backed previous Great Hill funds.
As part of the fund’s launch, four longtime managing directors—Chris Busby, Nick Cayer, Rafael Cofiño, and Drew Loucks—have joined the firm’s Executive Committee. They will serve alongside existing members Chris Gaffney, Mark Taber, and Matt Vettel. Michael Kumin will transition to Senior Advisor while continuing to manage his portfolio companies.
Advisor: Latham & Watkins advised Great Hill on the Fund formation.
KEY QUOTES:
“The strong interest in Fund IX and its rapid fundraise are a testament to the talent and efforts of the entire Great Hill team as well as our innovative portfolio company management teams who continue to drive growth and generate value for our limited partners. We are honored by the trust and confidence our investors have placed in us to identify transformative opportunities across our core areas of focus. Our team’s deep sector expertise, hands-on value creation, and collaborative approach will continue to be the cornerstone of our strategy as we help our portfolio companies scale and thrive.”
Great Hill’s Executive Committee
“We are incredibly grateful for the support of our limited partners, both those who have been with us for years and those joining us for the first time. As stewards of this fresh capital, our investment team looks forward to thoughtfully deploying it by partnering with entrepreneurs, founders, and management teams leading some of the most cutting-edge businesses across North America and Europe.”
Mary Kate Bertke, Managing Director and Head of Investor Relations at Great Hill
