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.