HarbourVest Partners, a leading global private markets investment specialist with over $143 billion in assets under management as of December 31, 2024, announced the launch of the HarbourVest Private Investment Fund (HPIF). HPIF was designed to provide a single entry point to HarbourVest’s multi-manager, direct private equity (PE) platform.
This fund is expected to invest capital primarily in direct company investments through co-investments and secondary continuation solutions with a long-term focus on the small to mid-market–a segment we believe has exhibited greater upside potential and less downside risk relative to larger companies. And the fund has been seeded with $550 million in capital (combination of assets and committed cash) with exposure to nearly 40 companies across 30 PE managers that HarbourVest believes to be industry-leading.
HarbourVest has been offering various solutions designed to meet its clients’ investment needs for over 40 years. As a new direct solution, HPIF is the latest addition to HarbourVest’s growing evergreen line-up and expands HarbourVest’s private equity platform to US private wealth investors.
Paralel Distributors is the distributor of the HarbourVest Private Investments Fund. And Paralel is unaffiliated with HarbourVest Partners, LLC.
KEY QUOTES:
“We are excited to launch our latest evergreen fund, providing individual investors in the US with the opportunity to benefit from investing in private markets. We believe that the scale and depth of our investment platform, our deep relationships with managers, and our multi-manager approach to portfolio construction, positions our firm to service this growing client segment, and differentiates this solution.”
– John M. Toomey, Jr., Chief Executive Officer of HarbourVest Partners
“Evergreen solutions are an important tool for private wealth investors to gain access to private market opportunities and diversify their equities portfolio. Our multi-manager approach not only provides company diversification based on sector and geography, but also incorporates diversification amongst managers supporting those companies. On day one, HPIF investors will gain access to a mature, institutional quality portfolio that is diversified across stage, geography and industry.”
– Monique Austin, Managing Director, HarbourVest Partners
“Individual investors account for almost 50 percent of global wealth, yet only account for 16 percent of assets held by alternative investment funds. Private markets provide a potentially compelling offering to clients as this asset class has demonstrated higher returns along with steadier, and lower downside volatility versus public markets.”
– Vinay Mendiratta, Managing Director, HarbourVest Partners
