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Alternative Market Briefing

HarbourVest amasses over $3bn for the 12th fund exceeding the target

Friday, September 23, 2022

Laxman Pai, Opalesque Asia:

Global private markets firm HarbourVest Partners announced that it has closed its twelfth flagship fund - HarbourVest Fund XI - at $3 billion, well over its target of $2 billion.

The global private markets investment specialist said in a media release that Fund XII provides investors with access to high-quality buyout, micro buyout, venture capital, and growth equity investments predominantly in the US through primary partnership investments and is complemented by secondary and direct co-investments.

The program aims to provide investors with compelling returns while reducing risk through diversification, said the release.

"The US remains the most developed and proven market for private equity investing and one where we see a large and growing opportunity set," said Ryan Gunther, Managing Director, HarbourVest Partners. "Our ability to provide a diversified, comprehensive solution to help investors meet their return objectives resulted in strong demand for our flagship US fund."

HarbourVest has more than $100 billion of assets under management as of June 30, 2022.

"In today's market environment, strategically navigating economic turbulence and an evolving investment landscape is critical for success," said Amanda Outerbridge, Managing Director, HarbourVest Partners. "Through our decades of experience and long-standing relationships, we can identify key areas of innovation and growth, and can provide investors with access to lead......................

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