Harvest Partners, LP – a New York-based private equity firm – recently announced that Harvest Partners IX, L.P. and its parallel funds (HP IX) completed its fundraising at $5.34 billion of commitments, surpassing its target of $5.25 billion. HP IX is 30% larger than the firm’s previous private equity fund – which raised $4.1 billion of commitments in 2019 and has been fully deployed.
Launched in 1981, Harvest has an over 40-year history of investing in North American companies in the middle market. Now the firm’s flagship Private Equity strategy focuses on businesses with enterprise values between $300 million to $5 billion in five target sectors – Business & Industrial Services, Consumer, Industrials, Healthcare and Software.
HP IX has more than 90 investors, primarily institutional and well-diversified across pension funds, sovereign wealth funds, insurance companies, asset managers, and family offices. Now Harvest and its affiliates have over $20 billion of assets under management.
Davis Polk & Wardwell LLP served as legal counsel for HP IX.
KEY QUOTES:
“I am immensely proud of the Firm, the depth of our team and the outcome of the HP IX capital raise. We view the strong investor response to HP IX, our largest fund to-date, as recognition of the success of our strategy. We are grateful to our returning investors for their continued support and the many new investors who joined us in HP IX.”
— Michael DeFlorio, Harvest CEO
“Harvest has built a reputation as a leader in middle market investing over four decades and multiple market cycles. We believe we have an exceptionally experienced and cohesive team that is well-positioned to execute on attractive opportunities for HP IX.”
— Campbell MacColl, Partner and Head of Investor Relations at Harvest
