HarbourVest Closes Fifth Fund at $3 Billion

The Boston private equity shop has closed well above its target

HarbourVest Partners announced it has closed its latest fund at $3 billion. The private equity shop announced the HarbourVest Partners Co-Investment Fund V at oversubscribed. its original target was $2.5 billion.

“HarbourVest’s direct co-investment program has established itself as a leader within the private equity space,” said Peter Wilson, Managing Director at the private equity firm. “Our longstanding relationships with proven managers have created access to compelling investment opportunities in partnership with some of the best sponsors in the industry.”

HarbourVest Partners’ Strategy

Meanwhile, the fund discussed its strategy in a press release. It will create a global, diversified portfolio of direct co-investments centered around buyout, growth equity, and other private market transactions. The fund has more than 100 investors from areas including Asia Pacific, Europe, Middle East, North America, and South America.

“[The firm’s] co-investment program continues to expand due to the strength of our track record and our differentiated sourcing capabilities,” said Corentin du Roy, Managing Director, HarbourVest Partners. “The depth of our relationships with private equity managers across the globe combined with our execution capabilities to deliver co-investment solutions throughout the capital structure has been key to the growth and success of our co-investment program.”

Furthermore, investors in the fund include the Manchester (N.H.) Employees’ Contributory Retirement System; the Virginia Retirement System, Richmond; the Vermont Pension Investment Committee, Montpelier; the San Antonio Fire & Police Pension Fund; and the Ventura County (Calif.) Employees’ Retirement Association.

Finally, the company closed Fund IV in July 2017 at $1.75 billion.

Related: Vanguard Launches Actively Managed International Fund

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

December 6, 2019

SIFMA: US Economy Will Expand in 2020 But at a Moderate Pace

SIFMA: US Economy Will Expand in 2020 But at a Moderate Pace

Latest Alternative Investment News

Steve Cohen Looks to Boost Stake As MLB Team Owner
December 7, 2019     Hedge Funds, Latest News, News

As uber-rich private equity and hedge fund billionaires are homing in on sports franchises, Steve Cohen is negotiating to up his current 8% stake in the Mets to 80%. Cohen…

LPL Wades Into Pricing Wars; Axes Platform Fees on ETFs for Advisors
December 6, 2019     News

LPL Financial launched a no-transaction-fee, ETF network where advisors can trade ETF’s for free in their advisory accounts. LPL Financial partnered with three leading ETF providers – State Street Global…

Goldman’s Private Equity Clients All Fear a Recession
December 6, 2019     News, Private Equity

Goldman Sachs clients are hunkering down for a recession, but are still looking for multi-billion dollar investment opportunities. Speaking on a Bloomberg interview, Alison Mass, Goldman Sachs Group Inc.’s chairman…

SIFMA: US Economy Will Expand in 2020 But at a Moderate Pace
December 6, 2019     Headlines, Special Reports

SIFMA’s bi-annual survey compiles economic focus from its Roundtable members, the chief US economists of over 20 global and regional financial institutions. SIFMA’s 2019 End-Year US Economic Survey forecasts US…