In the past two weeks, Cressey & Company concluded its fifth fund, Cressey & Co Fund V. It closed at $615 million, ahead of the $400 million target. Great Hill Partners held a final close on its fifth fund, as well, Great Hill Equity Partners V LP, and closed at a shade under $955 million. Some of the prominent investors that have been linked to Great Hill are the Connecticut State Treasury, Washington State Investment Board, and Pennsylvania State Employees’ Retirement System.
Reaching $1 billion in fundraising is always an impressive feat, but it’s especially impressive when it takes only five months. That’s exactly what SK Capital Partners did when it closed on its fourth fund, SK Capital Partners IV LP.
On a separate note, deals completed year-to-date hit $128.7 billion. It looks like the total will finish behind last year’s sum, barring an end-of-the-year surge.