HarbourVest raises nearly $400m for infrastructure vehicle

HarbourVest Partners announced the final closing of its dedicated core infrastructure vehicle Adelaide at $384 million. The fund builds on the team’s track record dating back to around the time of the global financial crisis. The strategy targets long-term, low-risk, cash-generating core and core plus infrastructure assets, principally located in North America, Western Europe and Australia. The fund’s deal-oriented strategy is to focus on growing opportunities for liquidity solutions in the efficient core infrastructure market, which drives stronger return potential, officials said. The HarbourVest team has been investing in infrastructure since 2008 and said it was among the first managers to create a dedicated infrastructure secondaries team in 2014. This focus has allowed the investment team team to allocate approximately $1.2 billion across more than 20 transactions in infrastructure over the last decade, according to Kevin Warn-Schindel, managing director at Boston-based HarbourVest, which has $69 billion in assets under management. “Specialized programs, such as our dedicated infrastructure fund, demonstrate our continued emphasis on helping clients invest in strategies that may otherwise be difficult to access,” said Warn-Schindel. “As the infrastructure market matures, we expect HarbourVest to continue to play a critical role in providing liquidity solutions for institutional investors, general partners and strategic investors by generating attractive deal flow potential for our limited partners.”

HarbourVest raises nearly $400m for infrastructure vehicle

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