Firm: Great Hill Equity Partners
Fund: Great Hill Equity Partners IV LP
Target: $1.25 billion
Placement Agent: None
Legal: Edwards, Angell, Palmer & Dodge
The Boston-based firm has already beaten its initial target of $1 billion for the fund, having raised $1.1 billion thus far. Sixty institutional investors signed up for
The firm typically writes equity checks of $60 million to $75 million for companies with enterprise values of $100 million to $500 million. It is known for not using excessive debt to drive returns: It bought six of 11 companies in Fund III with straight equity. Great Hill Partners will also take minority stakes in companies, including private investment in public equity, or PIPE, investments. It typically holds companies three to seven years.
Great Hill Partners’s most recent deal came in late July, when it partnered with
The sizes of Great Hill Partners’s funds have dramatically increased since Managing Partners Christopher Gaffney, Stephen Gormley and John Hayes founded it in 1999. Its first pool of capital,
Officials at the firm didn’t respond to requests for comment.