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Laxman Pai, Opalesque Asia: Global private markets asset manager HarbourVest Partners raised $15.1 billion of
investor commitments for Dover Street XI, its latest main fund dedicated to
acquiring stakes in private-equity funds and subsets of funds. The Boston asset
manager also raised $3.4 billion for Secondary Overflow Fund V, which co-invests
in deals alongside the main fund.
According to a media release from the provider of private markets investment solutions, this fundraising cycle was completed without extension, and complements additional secondaries allocations across other separately managed accounts and commingled funds.
"The size of this close marks a milestone for HarbourVest and demonstrates the continued investor interest in the Firm's differentiated secondary strategy," the release pointed out.
The Firm's secondaries team leverages HarbourVest's global platform to tap general partner relationships and differentiated information access to identify opportunities that may generate meaningful outperformance. Since its inception, HarbourVest has deployed over $55 billion into almost 650 secondaries transactions, focusing on a balanced mix of LP-led and GP-led opportunities.
John Toomey, Managing Director, HarbourVest Partners said: "More than 35 years after our first secondary transaction, the continued success of our secondaries program reflects our team's dedication to building an investment pipeline that benefits...................... To view our full article Click here
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