Buyout Firm Great Hill Beats Target With Fresh $7 Billion Fund

Great Hill Partners has raised $7 billion for its latest buyout fund, bucking a broader trend that’s seen other private equity firms struggle to gather fresh capital.

The growth-focused firm eclipsed its $5 billion target for Great Hill Equity Partners IX and reached its hard cap after five months of fundraising, according to a statement Wednesday.

Commitments to the fund came from new and existing investors, including public and private pensions, sovereign wealth funds, endowments and insurance companies from across the US, Europe, Asia and the Middle East.

Great Hill has now raised more than $19 billion and will continue ...