HarbourVest closes global secondaries fund at $4.8b

According to a statement, LPs in the fund include corporations, pension funds, endowments, foundations and high net worth private sector investors across the globe. The firm launched the fund early last year.

"Our global secondaries team has decades of experience and deep industry relationships. As the secondaries market continues to evolve, these competitive advantages have helped us to remain well positioned to continue to provide our investors with access to the best opportunities available." said Brett Gordon, a managing director at HarbourVest. "Our experience and expertise to execute on even the most complex transactions is what makes HarbourVest a sought after partner as both LPs and GPs actively seek liquidity solutions."

HarbourVest has been active in secondary investments since 1986 and claims to have transacted more than 400 deals. In 2013, it raised $3.6 billion for Dover Street VIII, exceeding the vehicle's predecessor which closes at $2.9 billion in 2009.

The firm has participated in a variety of secondary deals in Asia involving private equity firms such as Ironbridge Capital and RMB Capital Partners in Australia, as well as pan-regional players NewQuest Capital Partners and Asia Growth Capital Advisors. The latter two were both whole fund transactions, where the existing LPs fully exited and the portfolios were restructured into entites controlled by secondaries investors.

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• Topics
• Fundraising
• Secondaries
• HarbourVest Partners