Cove Hill Partners has wrapped up fundraising for its first private equity vehicle with more than $1 billion in commitments, exceeding its target and becoming one of the two largest maiden PE funds raised this year in the US, per the PitchBook Platform. Cove Hill is a Boston-based firm founded earlier this year by Andrew Balson, who previously worked for 17 years at Bain Capital.
The firm will back companies in the consumer and tech sectors with established management, pursuing investments with longer horizons than are typical in private equity. The rest of Cove Hill's management team includes veterans of growth-focused investors General Catalyst, Summit Partners and General Atlantic.
The year has been a bountiful one for private equity fundraisers of all stripes, including firms on their first go-around. Here's a look at five of the year's other biggest debut buyout funds.