Closing an impressive nine acquisitions and one exit in 2014, tech-focused private equity firm HGGC also raised a successful new fund and proved its enduring vitality, despite a change in leadership and a new company name.

The Palo Alto, California firm was founded in 2007 as Huntsman Gay Global Capital. While eponymous investor Jon Huntsman Sr. still serves as chairman of the firm's $1.1 billion inaugural fund (which closed in 2009), he was never involved in managing the firm, due to his day job as chairman of chemical maker Huntsman Corp. (NYSE: HUN). Robert Gay served as the firm's CEO until his departure in 2012 to take a leadership position in the Church of Jesus Christ of Latter-Day Saints. The firm changed its name to HGGC in 2013 and began raising the new fund in January 2014. (Neither Huntsman nor Gay were involved in the second fund.)

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