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H•••• L••

Buyout firmClassification probableUpper middle marketSEC registered investment adviser· Palo Alto, CAh•••.com

••• Locked

Regulatory AUM
$11B
Form ADV
PE fund assets
$8.1B
Form ADV
PE funds
26
Form ADV
Investments held
3 of 53
DFX transaction tape
Deals, last 12 months
0
DFX transaction tape
As of · identity and classification; each section below carries its own date
Classification
How this organization is classified, and on what basisBuyout firm · 2 in historyShow
Class
Buyout firmprobable, confidence 80%
Basis
own website statement
Size band
Upper middle marketdefined by: proxy: $8.10bn Private Equity Fund GAV on the Form ADV filed 2024-06-14
Classification history (2)
  1. Sep 13, 2026
    Buyout firm (probable, 80%, cls-pe-1)
    own website statement
    ••• Locked
    h•••.com
  2. Sep 13, 2026
    Buyout firm (confirmed, 85%, cls-pe-1)
    R6: 24 of 25 distinct vehicles are sworn P•••••• Equity Funds; 22 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
Adviser type
registered investment adviser
Form ADV filings
Mar 28, 2012 to Mar 31, 2026
RAUM
$11Bregulatory assets under management of the adviser; not dry powder, not a fund size
PE funds, latest filing
26
PE fund GAV, latest filing
$8.1Breported gross assets (Form ADV), not fund size
All private fund GAV
$11Bevery private fund type, latest filing
2024 PE fund GAV
$8.1Bsum over funds typed Private Equity Fund with a 2024 or later as-of date
PE share of funds, lifetime
96%
Fund type mix
filed 2024-06-14, latest gav Private Equity Fund $8.1B, latest counts Private Equity Fund 20, lifetime distinct Real Estate Fund 1, Private Equity Fund 24
Employees
49
Headquarters
Palo Alto, CA
Office address
••• Locked
Business phone
••• Locked
Stated criteria beside observed behaviour
53 observed deals
Stated by the firm
Sectors
business services, technology, consumer, financial services
Geography
not stated or not yet read
Revenue
not stated or not yet read
EBITDA
not stated or not yet read
Enterprise value
up to $1.5B
Equity check
not stated or not yet read
Control
not stated or not yet read
Thesis
••• Locked
Observed from deals on record
roles
unknown 50, platform 3
period
to 2025-05-06, from 2021-03-05, undated holdings 50, dated observations 6
window
last 2025-05-06, first 2021-03-05
control
control 2, unknown 51
companies
53
geography
investments
53
seller kinds
sponsor 1
transactions
3
cadence by year
2021 exits 1, 2025 platforms 1, other deals 1
platform add on
add ons 0, platforms 3, add ons per platform 0
sector known for
9
disclosed value usd
n 0
sector distribution
count 4, share 0.075, value software, examples CoConstruct, Technology Upland Software, Dealer-FX, Technology Serena Software, count 2, share 0.038, value consumer services, examples Consumer Grand Fitness Partners, Grand Fitness Partners, count 1, share 0.019, value consumer products, examples BELLAMI Hair, count 1, share 0.019, value industrial services, examples Marmic Fire & Safety Co., count 1, share 0.019, value healthcare it, examples Fullscript
holding period years
n 1, median 3.4
repeat counterparties
subsector distribution
count 2, share 0.038, value vertical software, examples CoConstruct, Dealer-FX, count 2, share 0.038, value fitness recreation, examples Consumer Grand Fitness Partners, Grand Fitness Partners, count 2, share 0.038, value software, examples Technology Upland Software, Technology Serena Software, count 1, share 0.019, value consumer products, examples BELLAMI Hair, count 1, share 0.019, value security fire life safety systems, examples Marmic Fire & Safety Co., count 1, share 0.019, value healthcare it, examples Fullscript

53 companies on the graph (3 transactions); most in software (4); 3 platforms and 0 add-ons; median observed hold 3.4 years (n=1); observed 2021 to 2025

Funds
27 on record
FundVehicleVintageReported gross assets (Form ADV), not fund sizeGAV by yearForm D soldLifecycle
K•••••• I••••••••• P••••••• I• L•
ADV: P•••••• Equity Fund
buyout or unlabelled2023
first reported on Form ADV
$99.9M
as of Jun 14, 2024
no Form DUnknown
H••• A•••••••• I•••••••• I•••• L•••
ADV: P•••••• Equity Fund
Feeder or parallel2023
first reported on Form ADV
$42.9M
as of Jun 14, 2024
no Form DEarly deployment
H••• F••• I•••• L•••
ADV: P•••••• Equity Fund
Feeder or parallel2021
first reported on Form ADV
$2.5B
as of Jun 14, 2024
no Form DActive deployment
H••• F••• I•• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2021
first reported on Form ADV
$753M
as of Jun 14, 2024
no Form DActive deployment
H••• A•••••••• I•••••••• I•• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2021
first reported on Form ADV
$44.0M
as of Jun 14, 2024
no Form DActive deployment
H••• A••••••••• I•• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2021
first reported on Form ADV
$10.6M
as of Jun 14, 2024
no Form DUnknown
H••• F••• I••••• L•••
ADV: P•••••• Equity Fund
Feeder or parallel2017
first reported on Form ADV
$1.9B
as of Jun 14, 2024
no Form DUnknown
H••• F••• I••• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2017
first reported on Form ADV
$1.3B
as of Jun 14, 2024
no Form DUnknown
H••• A•••••••• I•••••••• I••• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2017
first reported on Form ADV
$34.9M
as of Jun 14, 2024
no Form DMature
H••• A••••••••• I••• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2017
first reported on Form ADV
$11.4M
as of Jun 14, 2024
no Form DMature
H••• F••• I•• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2015
first reported on Form ADV
$765M
as of Jun 14, 2024
no Form DMature
H••• F••• I•••• L•••
ADV: P•••••• Equity Fund
Feeder or parallel2015
first reported on Form ADV
$472M
as of Jun 14, 2024
no Form DMature
H••• F••• I•••• L•••
ADV: P•••••• Equity Fund
Feeder or parallel2015
first reported on Form ADV
$91.3M
as of Jun 14, 2024
no Form DMature
H••• F••• I•••• L•••
ADV: P•••••• Equity Fund
Feeder or parallel2015
first reported on Form ADV
$80.6M
as of Jun 14, 2024
no Form DMature
H••• A••••••••• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2015
first reported on Form ADV
$36.2M
as of May 26, 2023
no Form DWound down
H••• F••• I•••• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2015
first reported on Form ADV
$21.5M
as of Jun 14, 2024
no Form DMature
H••• A••••••••• I•• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2015
first reported on Form ADV
$8.1M
as of Jun 14, 2024
no Form DMature
H••• A•••••••• I•••••••• I•• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2015
first reported on Form ADV
$912,824
as of Jun 14, 2024
no Form DHarvest
H•••• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2015
first reported on Form ADV
$340,309
as of May 26, 2023
no Form DWound down
H• A•••••••• I••••••••• L•••
ADV: Real Estate Fund
buyout or unlabelled2015
first reported on Form ADV
$326,567
as of May 26, 2023
no Form DWound down
H••• T•••• A••••••••• L•••
ADV: P•••••• Equity Fund
buyout or unlabelled2015
first reported on Form ADV
$0
as of May 26, 2023
no Form DWound down
H••••••• G•• C•••••• P••••••• F•••• L•••
ADV: P•••••• Equity Fund
Buyout fundunknown$20.5M
as of Jun 14, 2024
no Form DMature
H• P•••••• I••••••••• L•••
ADV: P•••••• Equity Fund
buyout or unlabelledunknown$8.8M
as of Apr 9, 2013
no Form DUnknown
H••••••• G•• C•••••• P••••••• P••••••• F••• a• L•••
ADV: P•••••• Equity Fund
Buyout fundunknown$5.9M
as of Jun 14, 2024
no Form DMature
H••••••• G•• C•••••• P••••••• P••••••• F••• B• L•••
ADV: P•••••• Equity Fund
Buyout fundunknown$1.8M
as of Jun 14, 2024
no Form DMature
H•• A•• C••••••••• L•••Co-investment vehicleunknownunknownno reporting$0Fundraising
H••• A•••••••• I•••••••• V• L•••buyout or unlabelledunknownunknownno reporting$0Fundraising
Team
94 current, 8 former
Managing partner (14)
Partner (11)
Principal (10)
Vice president (13)
Associate (11)
Business development (1)
Platform (21)
Other (7)
8 former (kept with end dates)
Portfolio
53 relationships, 3 platforms, 0 add-ons
CompanyRoleStatusInvestedHeldPartnerSource
E••••• M••••••PlatformactiveMay 6, 2025
transaction announcement
1.4 yearsunknownFact P•••• release wires (PR Newswire, GlobeNewswire, B••••••• Wire public pages and RSS)
F•••••••••Role unknownactiveMay 5, 2025
transaction announcement
1.4 yearsunknownFact P•••• release wires (PR Newswire, GlobeNewswire, B••••••• Wire public pages and RSS)
M••••• F••• • S••••• C••Platformexited
exited Jul 24, 2024
Mar 5, 2021
transaction announcement
3.4 yearsunknownFact P•••• release wires (PR Newswire, GlobeNewswire, B••••••• Wire public pages and RSS)
B•••••• H•••Role unknownexited
exited May 17, 2022
unknownunknownunknownFact P•••• release wires (PR Newswire, GlobeNewswire, B••••••• Wire public pages and RSS)
B••••••• S••••••• 4••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• C••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• D••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• D•••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• E••••• M••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• I•••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• i•••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• M•••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• M•••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• P•••• H•••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• R•••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• R••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
B••••••• S••••••• T•••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
C•••••••••Role unknownexited
exited Feb 24, 2021
unknownunknownunknownFact P•••• release wires (PR Newswire, GlobeNewswire, B••••••• Wire public pages and RSS)
C••••••• B••••• I••••••• G••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
C••••••• B••••• B••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
C••••••• G•••• F•••••• P•••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
C••••••• H••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
C••••••• M••• R•••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
D••••••••Role unknownexited
exited Mar 8, 2021
unknownunknownunknownFact P•••• release wires (PR Newswire, GlobeNewswire, B••••••• Wire public pages and RSS)
F•••••••• S••••••• A••••• H•••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
F•••••••• S••••••• C••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
F•••••••• S••••••• D••••• G••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
F•••••••• S••••••• I••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
F•••••••• S••••••• P••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
F•••••••• S••••••• S••••••••• R••• G••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
F•••••••• S••••••• S•••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
F•••••••• S••••••• T••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
G•••• F•••••• P•••••••PlatformactiveunknownunknownunknownFact P•••• release wires (PR Newswire, GlobeNewswire, B••••••• Wire public pages and RSS)
T••••••••• A••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• A••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• A••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• B•••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• D••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• D•••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• E••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• F•••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• F••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• F•••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• h•••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• I••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• I•••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• M••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• M•••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• S••••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• S••••• S•••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• S••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• S•••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••••••••• U••••• S•••••••Role unknownunknownunknownunknownunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
Transactions
7 on record
DateTypeTargetThis firm’s roleSource
May 6, 2025Platform acquisitionE••••• M••••••Sponsor (confirmed)golubcapital.com
May 5, 2025Type not statedF•••••••••Sponsor (confirmed)leonardgreen.com
Jul 24, 2024Sponsor to sponsorM••••• F••• • S••••• C••Seller (confirmed)h•••.com
May 17, 2022Exit to a strategic buyerB•••••• H•••Seller (confirmed)prnewswire.com
Mar 8, 2021Exit to a strategic buyerD••••••••Seller (confirmed)prnewswire.com
Mar 5, 2021Sponsor to sponsorM••••• F••• • S••••• C••Sponsor (confirmed)tscp.com
Feb 24, 2021Exit to a strategic buyerC•••••••••Seller (confirmed)prnewswire.com
Placement agents, lenders, advisers and co-investors
11 relationships
Placement agents (10)
  • E••••••• G•••• L••••• 9 shared · very strong · last Jan 1, 2021
  • A••••••• C•••••• G••••• L•• 2 shared · recurring · last Jan 1, 2022
  • G•••••• S•••• • C•• L•• 2 shared · recurring · last Jan 1, 2022
  • A••••• C•••••• A••••••• S•• 2 shared · recurring · last Jan 1, 2022
  • M•• C•••••• A••••••• L•••••• 2 shared · recurring · last Jan 1, 2022
  • L••••• A••• L•••••• 2 shared · recurring · last Jan 1, 2022
  • H•••••••• A••••••••• L•• 2 shared · recurring · last Jan 1, 2023
  • F•••••• C•••••• P••••••• L••• 2 shared · recurring · last Jan 1, 2022
  • F••• P•••••••• I••••• L••• 2 shared · recurring · last Jan 1, 2022
  • T•••• S••••••••• L•• 2 shared · recurring · last Jan 1, 2022
Lenders (1)
  • G•••• C•••••• 1 shared · one time · last May 6, 2025
LP commitments
5 disclosed
Events
60 most recent
  1. Jun 10, 2026
  2. Mar 31, 2026
  3. Mar 24, 2026
  4. Mar 11, 2026
  5. Feb 19, 2026
  6. Oct 6, 2025
  7. Sep 10, 2025
  8. Aug 4, 2025
  9. May 6, 2025
  10. May 5, 2025
  11. Apr 29, 2025
  12. Nov 18, 2024
  13. Oct 10, 2024
  14. Sep 4, 2024
  15. Aug 7, 2024
  16. Jul 24, 2024
  17. Jul 24, 2024
  18. Jun 13, 2024
  19. Feb 22, 2024
  20. Jan 17, 2024
  21. Dec 6, 2023
  22. Jul 19, 2023
  23. Jul 13, 2023
  24. Mar 9, 2023
  25. Feb 17, 2023
  26. Jan 19, 2023
  27. Sep 15, 2022
  28. Jul 14, 2022
  29. Jun 16, 2022
  30. May 17, 2022
  31. May 17, 2022
  32. Apr 20, 2022
  33. Jan 13, 2022
  34. Dec 9, 2021
  35. Nov 10, 2021
  36. Nov 9, 2021
  37. Nov 1, 2021
  38. Aug 11, 2021
  39. Jul 15, 2021
  40. May 6, 2021
  41. Mar 15, 2021
  42. Mar 8, 2021
  43. Mar 8, 2021
  44. Mar 5, 2021
  45. Feb 24, 2021
  46. Feb 24, 2021
  47. Jan 22, 2021
  48. Dec 24, 2020
  49. Dec 21, 2020
  50. Dec 17, 2020
  51. Nov 2, 2020
  52. Oct 13, 2020
  53. Oct 7, 2020
  54. Sep 21, 2020
  55. Sep 16, 2020
  56. Sep 16, 2020
  57. Sep 11, 2020
  58. Aug 28, 2020
  59. Aug 14, 2020
  60. Aug 11, 2020
Across the graphs

H•••• L•• is the same institution as 4 records in Independent Sponsors, RIA and Wealth, Allocators and Real Estate Funds.

Independent Sponsors1RIA and Wealth1Allocators1Real Estate Funds1

Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.

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