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Laxman Pai, Opalesque Asia:

The global private markets investment specialist HarbourVest has closed its ninth Europe and Asia fund-of-funds at USD 1.6bn, above the target size of USD 1.25bn.

The US-private equity firm said that the fund, HarbourVest International Private Equity Partners IV (HIPEP IV), provides investors access to private equity managers and investments in Europe and the Asia Pacific, the two major private equity markets outside of the United States.

The primary program is complemented by secondary transactions and direct co-investments which are designed to potentially accelerate performance and enhance overall returns. There is an attractive market opportunity in Europe and the Asia Pacific, which jointly comprise 63% of global GDP and represent almost 59% of global economic growth.

"Our HIPEP program is a reflection of the continued demand from investors for focused private equity solutions," said Till Burges, Managing Director, HarbourVest Partners. "With a large and growing team, HarbourVest has had a presence in Europe for over 30 years and in Asia for over 25 years, committing more than $29 billion across multiple business cycles."

The fund was supported by global limited partners from four continents, including public and private pension funds, and endowments.

"The fund is designed to focus on the leading managers across key investment themes in Europe and Asia, and exposure to the next generation of emerging managers in these region......................

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