HarbourVest Partners, a global private markets investment firm with more than $146 billion in assets under management as of June 30, 2025, announced the final close of its inaugural Private Equity Continuation Solutions Fund at more than $1.1 billion in capital commitments.
The Private Equity Continuation Solutions Fund, along with related parallel vehicles, attracted backing from a global group of institutional and private wealth investors. The strategy focuses on single-asset continuation transactions, enabling general partners to extend ownership of high-conviction portfolio companies while offering liquidity options to existing investors.
Although the PECS Fund represents a new, purpose-built vehicle dedicated to single-asset continuation solutions, HarbourVest brings more than a decade of experience investing in the space across its broader investment platform. The firm manages other commingled funds and separately managed accounts that participate in continuation transactions and committed approximately $2.8 billion to such opportunities last year.
The fund primarily targets high-performing sponsor-backed companies across North America and Europe. It is designed to provide customized, flexible, and scaled capital solutions to general partners seeking to retain exposure to trophy assets while facilitating liquidity for limited partners.
To date, HarbourVest has committed more than $12 billion across over 120 continuation solution transactions and maintains one of the largest and longest-tenured teams focused on continuation strategies. The PECS Fund operates within HarbourVest’s broader global private markets platform, which manages approximately $146 billion across private equity, private credit, real assets, and infrastructure strategies.
Founded more than 43 years ago, HarbourVest employs more than 1,250 people, including over 235 investment professionals across Asia, Europe, and the Americas. Across its private markets platform, the firm has committed more than $63 billion to newly formed funds, completed over $64 billion in secondary purchases, and invested more than $47 billion in direct operating companies.
KEY QUOTES
“For over 40 years, HarbourVest has earned the trust of GPs by being a thoughtful, reliable, and aligned partner. Continuation solutions are a natural extension of how we support sponsors and their investors: listening closely, understanding their objectives, and driving outcomes that are aligned with their long-term liquidity and portfolio needs. The PECS program formalizes an approach we have applied for many years, delivering flexible solutions grounded in deep relationships and extensive experience serving the evolving needs of private markets.”
John Toomey, Chief Executive Officer of HarbourVest
“The single asset continuation solutions market continues to expand as general partners look to provide liquidity options to their limited partners while retaining exposure to their strongest assets. We see a durable and attractive opportunity set for sponsors to partner with experienced, solutions-oriented investors who can structure transactions thoughtfully and at scale. We believe these transactions offer compelling risk-adjusted return opportunities that are complementary to existing private markets portfolios.”
Valérie Handal, Managing Director at HarbourVest
