HarbourVest Partners is seeking to offer high-quality buyout, micro buyout, venture capital and growth equity investments in the U.S. via its latest flagship fund that attracted over $3 billion in fresh capital.
HarbourVest Fund XII originally had a $2 billion target and received support from over 78 limited partners from four continents. Investors included public and private pension funds, insurance companies, endowments, family offices and ultra-high net worth investors.
“The U.S. remains the most developed and proven market for private equity investing and one where we see a large and growing opportunity set,” said Ryan Gunther, managing director at HarbourVest Partners, which has over $100 billion in assets under management. “Our ability to provide a diversified, comprehensive solution to help investors meet their return objectives resulted in strong demand for our flagship US fund.”
Earlier this summer, HarbourVest received a sizable mandate from UK’s NEST pension fund. The mandate was slated to receive a pro-rata allocation of suitable co-investment opportunities alongside HarbourVest Partners’ other co-investment accounts.
Fund XII provides investors with access to high-quality buyout, micro buyout, venture capital and growth equity investments predominantly in the U.S. through primary partnership investments and is complemented by secondary and direct co-investments. The program aims to provide investors with compelling returns, while reducing risk through diversification.
HarbourVest’s private markets platform to date has committed more than $52 billion to newly formed funds, completed over $43 billion in secondary purchases, and invested over $31 billion in directly operating companies.
“In today’s market environment, strategically navigating economic turbulence and an evolving investment landscape is critical for success,” addedAmanda Outerbridge, Managing Director, HarbourVest Partners, in a statement. “Through our decades of experience and long-standing relationships, we are able to identify key areas of innovation and growth, and can provide investors with access to leading managers who are positioned to outperform across economic cycles.”