WALTHAM, Mass.– Prospect Hill Growth Partners (“Prospect Hill”), a Boston-area private equity firm, has announced the successful closing of Prospect Hill Growth Fund II, L.P. (“PHG II”) with total capital commitments reaching $380 million. This figure surpasses the initial $300 million target and exceeds the size of their previous fund, marking a significant milestone for Prospect Hill Growth Partners. The fund attracted a diverse range of investors, including public and corporate pension funds, insurance companies, financial institutions, and family offices, representing major global investor markets with a geographical split of 54% from the U.S., 31% from Canada, and 15% from Europe.
PHG II will maintain Prospect Hill Growth Partners‘ strategy of making control equity investments, targeting investments between $25 million and $100 million in high-growth North American consumer and healthcare companies. Leveraging their deep sector expertise, Prospect Hill Growth Partners aims to collaborate closely with founders and management teams, offering strategic guidance to facilitate ambitious expansion plans.
The new fund has already deployed capital into three platform companies, demonstrating Prospect Hill Growth Partners‘ proactive investment approach. These include: Honors Holdings, the leading franchisee within the Orangetheory Fitness studio network; Urology Management Associates, recognized as the largest single-specialty urology group across the United States; and Walker Edison, a prominent supplier of affordable and innovative home furnishings to major global e-commerce marketplaces.
Adam Suttin, Managing Partner at Prospect Hill Growth Partners, expressed his gratitude and optimism: “We are grateful for the continued trust and strong support from our existing limited partners, and we are also delighted to welcome our new LPs into this fund.” He further emphasized the firm’s consistent investment philosophy, stating, “We will maintain our focused investment activity within our core expertise sectors and continue to execute our operationally-driven value creation strategy.”
Prospect Hill Growth Partners distinguishes itself as a leading private equity firm based in the Boston metropolitan area, dedicated to control equity investments in North American consumer and healthcare growth businesses. Collectively, the partners at Prospect Hill Growth Partners bring extensive experience, having invested $2.7 billion of capital across 35 portfolio companies over the past two decades. Their successful investment track record is underpinned by a sector-focused strategy, deep industry expertise, a robust operational value-add model, and a strong alignment of interests with their portfolio companies. For further details about the firm, please visit www.prospecthillgrowth.com.
Proskauer Rose LLP provided legal counsel for the fund formation, and Asante Capital Group LLC served as the exclusive global fundraising advisor.
For media inquiries, please contact Philippe T. Schenk, CFA at Prospect Hill Growth Partners at +1 617.753.1100 or via email at [email protected].
