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As private markets investing continues to evolve from an "alternative" investment to a mainstream core holding, both wealth and institutional investors are increasingly seeking diversified exposure to private markets. This is a shift from the relatively higher risk, concentrated exposure desired when private markets investments were part of the satellite portion of a portfolio. HarbourVest is a global leader in diversified private markets investing.

"Interest has been particularly strong in the wealth market. There is considerable appetite in adding private investments as a core holding as public markets have narrowed and have been dominated by a few select companies. We've had a strong response from both our existing and potentially new wealth partners," said John M. Toomey Jr., CEO of HarbourVest Partners. "We are excited to have Venu join us to accelerate and deepen our efforts in this important and growing market."

Joins HarbourVest from BlackRock

Venu has nearly 30 years of experience in financial services, having held senior leadership roles at some of the world's largest wealth and asset managers. Prior to joining HarbourVest, Venu was the Global Head of Aladdin Wealth, BlackRock's flagship wealthtech business. Prior to BlackRock, he spent more than a decade at Citi, where he held several leadership roles across the US, APAC, and EMEA, last serving as President of Citigold Wealth Management. He began his career as an engineer at IBM before transitioning to consulting roles at McKinsey and Boston Consulting Group.

He holds a bachelor's degree from the National Institute of Technology, Surathkal and an MBA from the Indian Institute of Management, Ahmedabad.

Venu assumes his responsibilities from Alex Rogers who led HarbourVest's Private Wealth efforts, in addition to his other responsibilities as Chief Strategy Officer. With Venu's appointment, Alex will focus exclusively on his role as Chief Strategy Officer.

Expanding HarbourVest's Global Wealth Platform

HarbourVest has been active in the private wealth space for more than 15 years, offering a broad range of diversified private markets products in partnership with wealth advisors across the globe. Venu will be responsible for leading and expanding the firm's growing platform.

"Private markets are undergoing significant shifts, with innovations in product design and delivery opening the door for individual investors to access the long-term potential of this asset class," Venu said. "I'm excited to join HarbourVest, a firm with a strong heritage and global platform, at the forefront of this transformation."