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Laxman Pai, Opalesque Asia:

Investment manager Wellington Management has closed its fourth late-stage growth fund at $2.6 billion, beating its $2.5 billion target, and over US$200 million in co-invest capacity to invest alongside the fund.

The private late-stage growth strategy Wellington Hadley Harbor IV seeks to invest in late-stage private companies seeking capital to sustain or accelerate growth before a potential IPO or sale said a media release from the private, independent investment management firm with client assets under management totaling over US$1.1 trillion.

Since launching its first late-stage growth fund in 2014, the team has successfully closed four funds, identifying opportunities to generate value for investors across industries including technology, consumer, healthcare, and fintech, added the Boston-based investment management company.

Michael Carmen, CFA, co-head of Private Investments, at Wellington Management said, "The Hadley Harbor team, along with the broader Wellington platform, brings decades of experience investing across both private and public equity markets."

"With companies staying private for longer, we are supplying capital to transformative, disruptive businesses to enable them to scale on their journey from the private to the public market. These companies are market leaders looking for experienced partners like Wellington to help them navigate the current economic volatility while accelerating their business growth," Mich......................

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