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Adviser Profile

As of Date 03/29/2024
Adviser Type - Large advisory firm
Number of Employees 12 -14.29%
of those in investment advisory functions 9 -25.00%
Registration SEC, Approved, 4/9/2015
AUM* 561,353,710 -31.29%
of that, discretionary 561,353,710 -31.29%
Private Fund GAV* 561,310,593 -34.02%
Avg Account Size 93,558,952 -31.29%
SMA’s No
Private Funds 6
Contact Info 617 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
2B 1B 1B 907M 680M 454M 227M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count6 GAV$561,310,593

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Brochure Summary

Overview

Prospect Hill Growth Partners (formerly known as J.W. Childs) is a private equity firm that was founded in 1995. Prospect Hill Growth Partners operates its business through Prospect Hill Growth Partners L.P. (formerly JWC Management L.P. 1) and its affiliate, JWC Associates. Prospect Hill Growth Partners, L.P. 2 was established in 2014 and is the principal Prospect Hill Growth Partners entity that provides investment advisory services to the various private equity funds sponsored or organized by Prospect Hill Growth Partners (each, a “Fund”). The principal owners of Prospect Hill Growth Partners, L.P. are Adam L. Suttin, Jeffrey J. Teschke and William E. Watts. JWC Associates is wholly owned by John W. Childs. A related person of Prospect Hill Growth Partners generally acts as the general partner of (or in another equivalent management position for) each Fund. References to Prospect Hill Growth Partners in this Brochure include, as the context requires, affiliates through which Prospect Hill Growth Partners provides investment advisory services or that act in any capacity referenced in the previous sentence. References to “person” in this Brochure include, as the context permits, natural persons and entities. For the purposes of this brochure, a “client” of Prospect Hill Growth Partners will refer to a Fund (and not the investors in a Fund). Prospect Hill Growth Partners focuses primarily on making control investments in growth companies or companies in the consumer products, specialty retail and healthcare services sectors that have the potential to grow with the help of Prospect Hill Growth Partners’ operating and managerial capabilities. Although the primary focus of each Fund is on such control investments, Prospect Hill Growth Partners may from time to time recommend other types of investments to the extent consistent with the respective Fund’s investment strategy and objectives and its Governing Documents (as defined below). Prospect Hill Growth Partners’ investment advisory services to the Funds consist of (i) investigating, identifying and evaluating investment opportunities; (ii) structuring, negotiating and making investments on behalf of the Funds; (iii) managing and monitoring the performance of such investments; and (iv) exiting such investments on behalf of the Funds. Prospect Hill Growth Partners tailors its advisory services to the specific investment objectives and restrictions of each Fund, as set forth in each Fund’s limited partnership agreement, confidential private placement memorandum and other governing documents (collectively, the “Governing Documents”). Investors and prospective investors in each Fund should refer to the Governing Documents of that Fund for information on the investment objectives and investment restrictions with respect to such Fund. There can be no assurance that any of the Funds’ investment objectives will be achieved. In accordance with common industry practice, one or more of the Funds and/or their general partners have entered into “side letters” or similar agreements with certain investors pursuant to which the Fund or its general partner grants the investor specific and more favorable rights, benefits, or privileges that are not made available to investors generally. Such terms may include, in respect of a limited partner’s
investment in a 1 JWC Management, L.P. rebranded as Prospect Hill Growth Partners, L.P. in March 2019. 2 Prospect Hill Growth Partners, L.P. is the entity that is registered as an investment adviser with the SEC. Fund, as applicable, the waiver, reduction or rebate of certain fees and/or carried interest, participation in the carried interest of the Fund or another vehicle sponsored by Prospect Hill Growth Partners, co-investment arrangements, excuse or withdrawal rights, the provision of additional information or reports, or more favorable transfer rights. No such agreement will necessarily entitle any other limited partner to the same terms of investment, and the Fund’s general partner will not be required to disclose to limited partners any such side agreements or the contents thereof. Certain employees, consultants, advisors, officers and directors of Prospect Hill Growth Partners and their related persons are given the opportunity to invest on a side-by-side basis with the Funds through co- investment vehicles that are structured to facilitate those investments (each, a “Co-Investment Vehicle”). Prospect Hill Growth Partners generally forms a separate Co-Investment Vehicle to co-invest alongside each Fund. The structure and operations of the Co-Investment Vehicles are discussed in Item 11. Additionally, from time to time and as permitted by the Funds’ Governing Documents, Prospect Hill expects to provide (or agree to provide) co-investment opportunities (including the opportunity to participate in co-invest vehicles) to certain investors or other persons, including other sponsors, market participants, finders, consultants and other service providers, Prospect Hill’s personnel and/or certain other persons associated with Prospect Hill and/or its affiliates. Such co-investments typically involve investment and disposal of interests in the applicable portfolio company at the same time and on the same terms as the Fund making the investment. However, from time to time, for strategic and other reasons, a co-investor or co-invest vehicle (including a co-investing Fund) purchases a portion of an investment from one or more Funds after such Funds have consummated their investment in the portfolio company (also known as a post-closing sell-down or transfer), which could be funded through Fund investor capital contributions and/or use of a Fund credit facility. Any such purchase from a Fund by a co-investor or co-invest vehicle generally occurs shortly after the Fund’s completion of the investment to avoid any changes in valuation of the investment. Where appropriate, and in Prospect Hill’s sole discretion, Prospect Hill reserves the right to charge interest on the purchase to the co-investor or co-invest vehicle (or otherwise equitably to adjust the purchase price under certain conditions), and to seek reimbursement to the relevant Fund for related costs. However, to the extent such amounts are not so charged or reimbursed, they generally will be borne by the relevant Fund. Prospect Hill Growth Partners does not participate in any wrap fee programs. Prospect Hill Growth Partners manages the assets of the Funds on a discretionary basis in accordance with the terms and conditions of each Fund’s Governing Documents. Prospect Hill Growth Partners does not manage client assets on a non-discretionary basis. As of December 31, 2023, Prospect Hill Growth Partners’ regulatory assets under management were $561,353,710.