Wed, Feb 19, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

HarbourVest Partners beats $2bn target to close its Fund XI at $2.61bn

Thursday, January 16, 2020

Laxman Pai, Opalesque Asia:

The global private markets asset manager closed its latest alternative investment flagship fund, HarbourVest Fund XI, with $2.61 billion, exceeding its $2 billion fundraising target.

The new fund is also 74% larger than its predecessor, HarbourVest Fund X, which closed with about $1.5 billion.

HarbourVest Fund XI's strategy is to make high-quality buyout, micro buyout, growth equity, and venture capital investments in North America.

The fund began making commitments in 2018 and has committed approximately 65% of its capital, in line with the planned three- to four-year investment period.

"We continue to see strong demand for primary partnership funds, especially among US investors that are new to private markets, and global investors seeking exposure to North American assets," said John Toomey, Managing Director, HarbourVest Partners.

Fund XI has more than 90 investors globally, including private and public pensions, corporations, foundations, family offices, and high-net worth individuals through private distribution partners.

Investors in the fund include the Vermont Pension Investment Committee, Montpelier, which runs for the $4.5 billion Vermont State Retirement Systems; $1.6 billion Louisiana Firefighters' Retirement System, Baton Rouge; and $80 million Calvert County Employees Retirement Plan and the Calvert County Sheriff's Department Pension Plan, both in Prince Frederick, Md.

HarbourVest Fund XI inve......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. PE/VC: Venture debt: Is it a loan? Is it equity? Is it an pportunity?, PE, VC investments in India hit all-time high in 2019[more]

    Venture debt: Is it a loan? Is it equity? Is it an pportunity? From Forbes: Venture Capital is usually the default option for fast-growth startups looking for a cash injection, thanks to our willingness to take risks in return for equity, and with no need to pay anything back - at least

  2. Other Voices: Evolution of shrinking hedge fund fees - what do investors and managers need to know?[more]

    By Don Steinbrugge, Founder and CEO, Agecroft Partners (DonSteinbrugge@agecroftpartners.com): Hedge funds fees remain under extreme pressure across the industry. This strong trend is driven by declining return expectations from investors, inc

  3. PE/VC: No handshakes, no deals: Silicon Valley VCs hit pause on China, US private equity funds swoop on UK for cheap deals[more]

    No handshakes, no deals: Silicon Valley VCs hit pause on China From Nikkei: Venture capital companies in Silicon Valley are not taking any chances when it comes to the coronavirus outbreak. "Due to the Coronavirus, No Handshakes Please. Thank You," reads a sign on the office doors of An

  4. COVID-19: Investors track ships, chase rumours to get edge on COVID-19 risks, Coronavirus risk puts the bull run on pause, China was wise to let markets stumble[more]

    Investors track ships, chase rumours to get edge on COVID-19 risks From Reuters: As investors crunch numbers to determine how the coronavirus will hit China's economy, hedge fund manager Nathaniel Polachek has tied much of his outlook to the fate of a ship anchored near Weihai, China.

  5. Bruce Berkowitz is back!, Coatue's new quant fund lost money in the fourth quarter[more]

    Bruce Berkowitz is back! From Institutional Investor: Famed value investor Bruce Berkowitz has hit hard times over the past decade, with big bets on losers like Eddie Lampert's Sears Holdings. In fact, over the past 10 years, his Fairholme Fund's annualized return is only 4.89 percent -