HarbourVest Hits $1.75B Hard Cap On Fourth Direct Co-Investment Fund

Jul 12 2017 | 7:24pm ET

Global private markets manager HarbourVest Partners has raised $1.75 billion in capital commitments for its fourth co-investment fund, hitting the pool’s hard cap and significantly surpassing the original $1 billion target. 

The new fund, named HarbourVest Partners Co-Investment IV, was heavily oversubscribed, the company said in a statement. In fact, the original hard cap of $1.5 billion was raised to $1.75 billion during fundraising with the support of limited partners.

The fund has more than 100 investors from across a range of geographies, including Australia, China, Colombia, Korea, Israel, Peru, Switzerland, the United Kingdom and the United States. It includes institutional clients such as private and public pensions, corporations, foundations, and family offices, as well as clients through private distribution partners.

Approximately 30% of the fund’s capital has been invested into 11 co-investments alongside lead sponsors diversified across the Americas, Europe, and Asia, HarbourVest added.

“We’re excited by the confidence our clients have placed in us that resulted in such a successful fundraise,” said Peter Wilson, managing director and member of the company’s executive management committee, in a statement. “HarbourVest has been investing directly in companies since 1983 and our co-investment funds capitalize on the general partner relationships we have built since then. These relationships allow us to provide clients with access to a strong and diverse pipeline of global investment opportunities in an ever-evolving private equity market.”

Founded in 1982 and headquartered in Boston, HarbourVest manages more than $40 billion in primary fund investments, secondary investments, and direct co-investments in co-mingled funds or separately managed accounts. The company has committed more than $31 billion to newly-formed funds, completed over $15 billion in secondary purchases, and invested over $6 billion directly in operating companies since inception.


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