Great Hill Partners, a private equity firm investing in high-growth companies, has partnered with Blackstone (NYSE:BX). Funds managed by Blackstone GP Stakes will acquire a minority ownership interest in Great Hill.

Blackstone GP focuses on value-added, long-term investments in management companies of private equity firms.

Great Hill has raised seven funds in the last 20 years, investing in over 90 companies and creating 15,000 jobs. The firm leverages its sector knowldege and connecctivity to lead high-growth companies to innovate, go to market and build an enduring business.

“We are thrilled to be partnering with the Great Hill team,” said Mustafa Siddiqui, head of Blackstone GP. “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.”

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