Great Hill Partners has announced the final close of its ninth flagship fund, Great Hill Equity Partners IX, L.P., with total commitments reaching $7 billion. The fund significantly surpassed its original $5 billion target and hit its hard cap just five months after its formal launch, reflecting strong demand from both longstanding and new investors. This latest fundraise brings Great Hill’s cumulative capital raised since its founding in 1998 to over $19 billion, reinforcing its position as a leading private equity firm focused on high-growth, disruptive companies.
Fund IX builds on the momentum of its predecessor, Fund VIII, which closed in early 2022 with $4.65 billion in commitments. Like previous funds, Fund IX will continue to pursue Great Hill’s core strategy of middle-market growth buyouts, targeting companies that are scaling rapidly and reshaping their industries. The firm’s investment focus spans software, financial services, healthcare, consumer, and business services—sectors where innovation and operational agility are driving long-term value creation.
The fund attracted a diverse and global investor base, with commitments coming from across North America, Europe, Asia, the Middle East, South America, and Australia. Investors include a wide range of institutions such as public and private pension funds, sovereign wealth funds, endowments, foundations, insurance companies, healthcare systems, institutional fund managers, family offices, and high-net-worth individuals. Many of these limited partners have supported Great Hill through multiple fund cycles, underscoring the firm’s reputation for consistent performance and collaborative partnerships.
As part of the launch of Fund IX, Great Hill has made several key leadership updates. Longtime Managing Directors Chris Busby, Nick Cayer, Rafael Cofiño, and Drew Loucks have been appointed to the firm’s Executive Committee, joining existing members Chris Gaffney, Mark Taber, and Matt Vettel. These appointments reflect the firm’s commitment to continuity and the deep bench of experience that has helped shape its investment philosophy over the years. In addition, Michael Kumin, a veteran member of the Executive Committee, will transition to the role of Senior Advisor. He will continue to oversee his existing portfolio companies and remain actively involved in managing prior funds.
The closing of Fund IX comes at a time when private equity firms are navigating a complex global landscape, marked by shifting market dynamics, evolving consumer behavior, and rapid technological change. Great Hill’s approach—grounded in sector expertise, hands-on value creation, and a focus on scalable business models—has positioned it to thrive in this environment. The firm’s ability to identify and support companies with transformative potential has been a hallmark of its strategy, and Fund IX is expected to continue that legacy.
With fresh capital and a strengthened leadership team, Great Hill is poised to deepen its impact across its target sectors. The firm will continue to seek out companies that are not only growing quickly but also transforming how industries operate. Whether through organic expansion, strategic acquisitions, or operational improvements, Great Hill aims to help its portfolio companies reach new heights while delivering strong returns to its investors.
Advisor: Latham & Watkins LLP 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
