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Laxman Pai, Opalesque Asia: Harvest Partners, an investment firm focused on leveraged buyout and growth capital investments in the middle market, has closed Harvest Partners IX (HP IX), a buyout fund, with $5.34 billion of commitments, exceeding its target of $5.25 billion.
HP IX is 30% larger than the firm's prior private equity fund, which raised $4.1 billion of commitments in 2019 and has been fully deployed, said a media release from the New York-based private equity firm.
HP IX has over 90 investors, primarily institutional and well-diversified across pension funds, sovereign wealth funds, insurance companies, asset managers, and family offices.
Investors in the fund include North Carolina Retirement Systems, Raleigh; Michigan Retirement Systems, East Lansing; Tennessee Consolidated Retirement System, Nashville; and Los Angeles Water & Power Employees' Retirement Plan.
Michael DeFlorio, Harvest CEO said: "We view the strong investor response to HP IX, our largest fund to date, as recognition of the success of our strategy. We are grateful to our returning investors for their continued support and the many new investors who joined us in HP IX."
Founded in 1981, Harvest has an over 40-year history of investing in North American companies in the middle market. Today, the firm's flagship Private Equity strategy focuses on businesses with enterprise values between $300 million to $5 billion in five target sectors - Business & Ind...................... To view our full article Click here
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