HarbourVest raises more than $3b for secondaries fund
HarbourVest Partners has exceeded the $3 billion target for its latest global secondary fund after about one year in the market. According to regulatory filings, Dover Street VIII has accumulated LP commitments of about $3.1 billion, slightly larger than its predecessor raised in 2007.
The vehicle has a commitment period of 10 years, with the option of four one-year extensions, and a commitment period of 3-4 years. The annual management fee is 81 basis points, based on 50% of committed...
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