Boston PE Firm BayHawk Capital Closes $616M Inaugural Fund

The oversubscribed fund will back founder-led tech and essential services companies.

Published on Feb. 5, 2026

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BayHawk Capital, a Boston-based private equity firm founded in 2024 by THL Partners veterans Jeff Swenson and Doug Haber, has closed its inaugural $616 million fund. The fund, which exceeded its original $475 million target, will be used to back founder-owned technology and essential services businesses that can benefit from professionalization and consolidation.

Why it matters

The successful close of BayHawk's first fund highlights continued investor appetite for private equity strategies focused on founder-led companies, particularly in the technology and essential services sectors. As more founders look to partner with PE firms to scale their businesses, funds like BayHawk's will play a key role in facilitating those transactions.

The details

BayHawk's Fund I closed oversubscribed at its hard cap of $616 million, drawing support from a mix of endowments, institutions, family offices, and members of the firm's network. The fund will pursue a strategy of backing founder-led companies benefiting from secular tailwinds, with a focus on building scale through professionalization and consolidation. BayHawk has already deployed the fund, completing two platform investments with an active pipeline of additional founder-owned opportunities.

  • BayHawk Capital was founded in 2024.

The players

BayHawk Capital

A Boston-based private equity firm focused on founder-owned technology and essential services businesses.

Jeff Swenson

Managing Partner at BayHawk Capital, a veteran of THL Partners.

Doug Haber

Managing Partner at BayHawk Capital, a veteran of THL Partners.

Monument Group

The exclusive placement agent for BayHawk Capital Fund I.

Kirkland & Ellis

The legal counsel for BayHawk Capital Fund I.

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What they’re saying

“We are thrilled to announce the close of our inaugural fund and are grateful for the confidence our limited partners have placed in our team. The strong investor support reflects alignment around our culture, values and partnership-driven approach to investing. We are excited to continue building durable businesses of significant scale alongside exceptional founders and leadership teams.”

— Jeff Swenson, Managing Partner, BayHawk Capital

“Our strategy combines a thematic sourcing model driven by deep sector specialization with an approach to operational value-add that has been demonstrated to unlock value in founder-owned companies. With Fund I, we believe we are well positioned to pursue compelling opportunities where our experience and resources can meaningfully accelerate growth and professionalization.”

— Doug Haber, Managing Partner, BayHawk Capital

The takeaway

BayHawk Capital's successful $616 million fund raise underscores the continued investor appetite for private equity strategies focused on backing founder-led technology and essential services businesses. As more founders seek to partner with PE firms to scale their companies, funds like BayHawk's will play a crucial role in facilitating those transactions and helping to professionalize and consolidate the founder-owned business landscape.