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Summit names two new partners

The Boston private equity firm has promoted five professionals, including John Carroll and CJ Fitzgerald to partner.

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Boston-based private equity firm Summit Partners announced that John Carroll and CJ Fitzgerald have been promoted to general partner. The firm also named Scott Carter, Christopher Dean and Sotiris Lyritzis principals.

Carroll and Fitzgerald will join the firm’s fourteen other partners, including founding managing partners Greg Avis, E. Roe Stamps and Stephen Woodsum.

Carroll, based in Boston, originally joined Summit in 1993 and rejoined the firm in 1998 after graduating from the Kellogg Graduate School of Management at Northwestern University. Carroll has served as a director for, or been actively involved with, portfolio companies Blue Ocean Software, Clinical Pathology Laboratories, FleetCor Technologies, LogistiCare and Sybari Software.

Fitzgerald, based in Palo Alto, originally joined Summit in 1990 and rejoined the firm in 2001 after graduating from Harvard Business School. Fitzgerald has served as a director for, or been actively involved with, portfolio companies Global Cash Access, GoldenGate Software, M-Audio, Meridian Systems and WebSideStory.

Summit Partners was founded in 1984 and has raised more than $5.5 billion (€4.2 billion) in capital. In March 2004, the firm closed its third subordinated debt fund on $465 million. Summit Ventures VI, a $2 billion fund, closed in 2001.