Press Release

Kirkland Represents Summit Partners in Structuring and Fundraising of $4.9 Billion Fund

Kirkland & Ellis represented Summit Partners, a global alternative investment firm, in the first and final closing of its latest flagship U.S. growth equity fund, Summit Partners Growth Equity Fund X. The oversubscribed fund, which was launched in the fourth quarter of 2018, closed at its hard cap with total commitments of $4.9 billion.  Fund X will enable Summit to continue to pursue its core strategy of targeting growth equity investments in technology, healthcare, financial technology and services, consumer products and industrial technology companies.

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The Kirkland team was led by investment funds partners John Budetti and Andrew Day, and included investment funds partner Lina Zhou and associates Allison Flor and Sheldon Laing; tax partner Don Rocap and associate Miles Johnson; and employee benefits partner Liz Dyer and associate Erica Rozow.

Kirkland is a global leader in providing sophisticated advice to investment fund sponsors, institutional investors and other market participants in the alternative investment fund space. Kirkland offers clients the unsurpassed resources of a large, integrated, multidisciplinary, global team located across offices in the United States, Europe and Asia-Pacific. With more than 380 dedicated Investment Funds attorneys, few firms approach the breadth, depth and scope of Kirkland’s experience in investment funds legal services. Since 2016, Kirkland has advised over 400 funds representing in excess of $650 billion of capital commitments.