Firm: Great Hill Partners
Fund: Great Hill Equity Partners V LP
Amount Raised: $493.55 million
Placement Agent: None
Great Hill Partners, founded in 1993, did not list a target for the new pool. The firm’s predecessor fund, the 2008-vintage Fund IV, raised $1.13 billion, according to the Thomson One private equity database. Great Hill Partners, which manages more than $2.7 billion in capital, did not respond to a request for comment.
Known LP Investors include Commonfund Capital Inc, the Connecticut State Treasurer, Conversus Capital LP, the Illinois Municipal Retirement Fund, the Pennsylvania State Employees’ Retirement System, the State Retirement & Pension Systems Of Maryland and the Washington State Investment Board, according to Thomson One.
Great Hill Partners appears not to be working with a placement agent to raise this fund.
Great Hill Partners seeks to invest $30 million to $150 million per transaction in companies with $30 million to $500 million of revenue, according to its website. The firm says its areas of expertise include business services, consumer services, healthcare, education, media and communications, education, the Internet, logistics, financial technology and transaction processing.
In November, Spectrum Equity Investors and Great Hill Partners agreed to sell Passport Health Communications to the credit bureau Experian Inc for $850 million, sister publication peHUB reported. Spectrum and Great Hill Partners completed a recap of Passport Health in 2008 and led a $232 million investment. The two firms held a majority stake in the company.
DealerRater, an online review website focused on car dealers, announced in December that it had received an equity investment from Great Hill Partners. Financial terms were not disclosed. DealerRater said it would use the financing to continue its global expansion, including sales and marketing. The company also said it will continue to evaluate strategic acquisition opportunities, with additional equity capital available from Great Hill Partners.