Great Hill Partners Announces Strategic Investment from Blackstone GP Stakes

Rhea-AI Summary

Great Hill Partners and Blackstone (NYSE:BX) have announced a partnership where Blackstone GP Stakes will acquire a minority interest in Great Hill Partners. This strategic collaboration aims to bolster Great Hill's growth in the private equity space, leveraging Blackstone's expertise. Great Hill has a strong track record, raising almost $8 billion and investing in over 90 companies. This partnership is seen as a significant milestone, with both firms expressing enthusiasm over the synergy and mutual benefits of this investment.

Positive

• Blackstone GP Stakes acquires a minority interest in Great Hill Partners, enhancing strategic growth opportunities.
• Great Hill has a solid track record, having raised nearly $8 billion and invested in over 90 companies.

Negative

• None.

BOSTON & NEW YORK--(BUSINESS WIRE)-- Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies, and Blackstone (NYSE:BX) today jointly announced a new partnership in which funds managed by Blackstone GP Stakes will acquire a minority ownership interest in Great Hill Partners. Blackstone GP Stakes specializes in value-added, long-term investments in the management companies of leading private equity firms.

Managing Directors, Chris Gaffney, Michael Kumin, Mark Taber and Matt Vettel of Great Hill Partners, said, “Today is a significant milestone for Great Hill. Throughout our history, we have had the good fortune to partner with high-caliber limited partners, invest in innovative companies and collaborate with leading entrepreneurs. We are excited to welcome Blackstone, one of the most highly regarded and respected firms in the alternative investment industry, as a minority investor in our firm. Under the continued direction and guidance of our current leadership team and senior investment professionals, we are confident that this partnership will benefit all of our key stakeholders while continuing to support our growth and investment strategies.”

Mustafa M. Siddiqui, Head of Blackstone GP Stakes, said, “We are thrilled to be partnering with the Great Hill team. They have built an outstanding firm on the strength of their collaborative mindset, domain expertise, and strategic vision for high-growth, disruptive companies. We look forward to supporting the firm’s continued success.”

Ward Young, Managing Director at Blackstone GP Stakes, added, “We focus on partnering with best-in-class alternative asset managers with differentiated investment playbooks and track records of generating strong returns for their investors. Great Hill excels in those areas. We are excited to join Great Hill for the next chapter of their growth.”

Great Hill has raised seven funds over the past two decades, investing in more than 90 companies and creating 15,000 jobs. Leveraging its deep sector expertise and industry connectivity, the firm has identified and invested in leading high-growth companies taking a tailored approach to accelerate go-to-market, product innovation and team development, all towards building industry-leading and enduring businesses.

Evercore served as financial advisor to Great Hill. Kirkland & Ellis served as legal counsel to Great Hill and Fried Frank served as legal counsel to Blackstone.

About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. Over the past two decades, Great Hill has raised nearly $8 billion of commitments and invested in more than 90 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. For more information, including a list of all Great Hill investments, visit www.greathillpartners.com

About Blackstone
Blackstone is the world’s largest alternative investment firm. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211112005370/en/

Great Hill Contact

Sard Verbinnen & Co

greathill-SVC@sardverb.com

+1 212-687-8080

Blackstone Contact

Paula Chirhart

paula.chirhart@blackstone.com

+1 347-463-5453

Source: Great Hill Partners

FAQ

What is the significance of Blackstone's partnership with Great Hill Partners?

The partnership allows Blackstone GP Stakes to acquire a minority ownership interest in Great Hill Partners, which is expected to enhance growth and investment strategies.

How much has Great Hill Partners raised in total?

Great Hill Partners has raised nearly $8 billion over two decades.

What sectors does Great Hill Partners focus on?

Great Hill Partners targets investments in software, digital commerce, financial technology, healthcare, and digital infrastructure.

What does Blackstone do?

Blackstone is the world's largest alternative investment firm, managing $731 billion in assets across various investment vehicles.

What does the minority investment by Blackstone imply for Great Hill Partners?

The minority investment from Blackstone is expected to provide Great Hill with additional resources and expertise to accelerate its growth.