Great Hill Partners
Great Hill Partners ("GHP") is a Boston-based private equity firm specializing in growth buyout and growth equity in the mid-market segment. Founded in 1998, it is today led by four Managing Partners - Chris Gaffney (co-founder and CEO), Mike Kumin, Mark Taber and Matt Vettel - who are also majority shareholders in the firm.
Great Hill employs over 100 people, split between its historic Boston headquarters and a London office opening in 2023. The company invests in three preferred sectors: technology (particularly SaaS software, FinTech and digital infrastructure), healthcare and digital commerce. It favors business models with recurring revenues, such as SaaS software or technology-based business process outsourcing activities.
In November 2021, Blackstone acquired a minority stake in Great Hill Partners, providing the firm with enhanced institutional support, particularly on ESG and operational levers through its central purchasing unit dedicated to portfolio companies.
.jpg)
Proactive, targeted sourcing
Great Hill Partners sources its opportunities through a structured internal research program, articulated around its "Initiative" process. This aims to identify and develop investment theses in targeted sub-sectors of technology, healthcare and digital commerce. It combines idea generation, in-depth sector analysis, participation in professional events, exchanges with experts, direct contact with executives and ongoing refinement of theses. To date, over 300 "Initiatives" have been carried out, ensuring a constant flow of qualified opportunities.
These sub-sector theses exclusively define the targeted investment universe. Identified companies are approached proactively, enabling teams to forge strategic relationships ahead of the divestment process. This approach generates a differentiating pipeline and fuels Great Hill's competitive edge, while facilitating more informed decision-making.
A strong discipline of investment valuation at entry
Great Hill seeks to acquire high-growth companies at reasonable valuations.
The expertise developed through Initiatives often enables the firm to establish itself as the preferred partner of management teams. To remain competitive in an increasingly competitive environment, Great Hill is also able to structure complex transactions, such as front-end mergers, enabling synergies to be exploited right from the initial investment and justifying an offer superior to that of the competition.
Value creation focused on accelerating organic growth
Great Hill focuses on revenue growth as the main driver of value creation. From the moment of acquisition, the strategy is to accelerate organic growth, even if this means accepting temporarily lower profitability in order to maximize development potential.
A central lever of this approach lies in optimizing "Go-to-Market" strategies and strengthening management teams. These initiatives are supported by Great Hill's in-house operational team, with functional (digital, HR, sales strategy, etc.) and sector-specific expertise.
This model enables the firm to support its holdings as they grow in strength, before selling them, often to strategic acquirers or buyout funds more focused on optimizing margins.
A stable investment team closely aligned with its investors
The stability and collective experience of the investment team are among Great Hill's key assets. The five members of the investment committee have been working together for over 25 years, with a continuity rare in the industry, and a mastery of managerial transitions.
What's more, their financial commitment is particularly significant: the personal contribution of team members represents over 5% of the fund's size, reflecting an alignment of interests well beyond market standards.
Great Hill Partners IX
