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Alternative Market Briefing

HarbourVest raises $3bn for Co-Investment Fund V

Monday, November 18, 2019

Laxman Pai, Opalesque Asia:

Boston-based HarbourVest Partners closed its latest private equity fund above the fundraising target - the $3 billion HarbourVest Partners Co-Investment Fund V was oversubscribed and above its $2.5 billion target.

The fund's strategy is to create a global, diversified portfolio of direct co-investments in buyout, growth equity, and other private markets transactions alongside top-tier private markets managers said a press release from the global private markets investment specialist with $63 billion in assets under management.

HarbourVest Partners Co-Investment Fund V has more than 100 investors from across a range of geographies including Asia Pacific, Europe, Middle East, North America, and South America.

Investors in HarbourVest Partners Co-Investment Fund V include the $82 billion Virginia Retirement System, Richmond; $5.7 billion Ventura County (Calif.) Employees' Retirement Association; $4.1 billion Vermont Pension Investment Committee, Montpelier; $4.1 billion Louisiana Parochial Employees' Retirement System, Baton Rouge; $3.2 billion San Antonio Fire & Police Pension Fund; and $234 million Manchester (N.H.) Employees' Contributory Retirement System.

"HarbourVest's direct co-investment program has established itself as a leader within the private equity space," said Peter Wilson, Managing Director, HarbourVest Partners. "Our longstanding relationships with proven managers have created access to compelling investm......................

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