SCHEDULE: Summit Partners Discloses 8.62% Stake in LifeStance Health
Beneficial Ownership Report (Amendment)
Summit Partners and its affiliated entities have filed an amended Schedule 13G, reporting a collective beneficial ownership of 8.62% in LifeStance Health Group, Inc.
Summary
- Summit Partners, L.P. and its affiliated investment funds collectively beneficially own 33,524,715 shares of LifeStance Health Group, Inc. common stock.
- This aggregate ownership represents 8.62% of the company's outstanding common stock.
- The calculation is based on 389,000,281 shares of common stock outstanding as of October 29, 2025, as reported in LifeStance Health Group's Form 10-Q filed on November 6, 2025.
- Individual reporting entities within the Summit Partners group hold varying percentages: Summit Partners Growth Equity Fund IX-A, L.P. holds 5.28% (20,529,149 shares), and Summit Partners Growth Equity Fund IX-B, L.P. holds 3.30% (12,818,117 shares).
- Other affiliated entities, including Summit Investors GE IX/VC IV (UK), L.P., Summit Partners Entrepreneur Advisors Fund II, L.P., and Summit Investors GE IX/VC IV, LLC, hold smaller stakes ranging from 0.01% to 0.04%.
Sentiment
Score: 5
Explanation: This filing is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the company's performance or prospects. It is a neutral informational update.
Future Outlook
The filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance from LifeStance Health Group, Inc. or the reporting persons regarding the company's future performance.
Industry Context
LifeStance Health Group, Inc. operates in the healthcare sector, specifically focusing on mental health services. The disclosure of a significant stake by a private equity firm like Summit Partners indicates continued institutional interest in the mental health services market, which has seen growth and investment due to increasing demand and evolving healthcare delivery models.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Investment Decision Delegation | Summit Master Company, LLC has delegated investment decisions, including voting and dispositive power, to Summit Partners, L.P. and its four-person investment committee (Peter Y. Chung, Darren M. Black, Mark A. deLaar, and Craig D. Frances) with respect to the reported securities. | This clarifies the internal governance structure of the reporting persons regarding their investment in LifeStance Health Group, Inc., indicating centralized control over the voting and disposition of shares within the Summit Partners group. |
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional stake by Summit Partners may be viewed positively as a vote of confidence, or it could raise questions about potential future influence on corporate strategy or liquidity if the stake changes significantly.
- Management: Awareness of a large institutional holder like Summit Partners may influence management's strategic decisions and communication with investors.
Key Dates
| Date | Description |
|---|---|
| 2025-09-30 | Date of event which requires filing of this statement |
| 2025-10-29 | Date as of which 389,000,281 shares of common stock were outstanding |
| 2025-11-06 | Date LifeStance Health Group, Inc. filed its Form 10-Q with the SEC |
| 2025-11-13 | Date of signature for the Schedule 13G filing |
Keywords
LifeStance Health Group, Summit Partners, Beneficial Ownership, Institutional Investor, Common Stock, Healthcare, Mental Health, Investment Fund, Equity Stake
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