Boston-based Wellington Management closed its private late-stage growth strategy Wellington Hadley Harbor IV with $2.6 billion in commitments and another $200 million in co-investment capacity.
Since 2014, the strategy has raised $6.6 billion across four funds, officials said in an announcement today. The team is focused on identifying opportunities across industries including technology, consumer, healthcare and fintech. Hadley Harbor IV has made five investments so far.
“The Hadley Harbor team, along with the broader Wellington platform, brings decades of experience investing across both private and public equity markets,” said Michael Carmen, co-head of private investments at the $1.1 trillion Wellington Management. “With companies staying private for longer, we are supplying capital to transformative, disruptive businesses to enable them to scale on their journey from the private to the public market. These companies are market leaders looking for experienced partners like Wellington to help them navigate the current economic volatility while accelerating their business growth.”
The fund’s global investor base includes public and private pension plans, insurance companies, corporations, a sovereign wealth fund and family offices.
The investment team is supported by Wellington’s portfolio support resources including a dedicated ESG team who help evaluate private companies’ ESG readiness for public markets. In addition, the team offers strategic guidance by harnessing insights and access to relationships from its public market global industry analysts.
