Wellington Management – one of the world’s largest independent investment management firms – recently announced the close of its private late-stage growth strategy Wellington Hadley Harbor IV with US $2.6 billion in commitments and over $200 million in co-invest capacity to invest alongside the Fund.
This Fund seeks to invest in late-stage private companies seeking capital to sustain or accelerate growth prior to a potential IPO or sale. And since launching its first late-stage growth fund in 2014, the team has successfully closed four funds, identifying opportunities to generate value for investors across industries including technology, consumer, healthcare, and fintech.
The closing of Wellington Hadley Harbor IV brings the total amount of capital raised to invest in late-stage private companies across all four vintages to more than $6.6 billion since 2014. And Hadley Harbor IV has made 5 investments thus far. The Fund’s global investor base includes public and private pension plans, insurance companies, corporations, a sovereign wealth fund, and family offices.
The Fund’s investment team consists of seasoned investment professionals with diversified sector expertise and extensive private market networks. And they are 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.
KEY QUOTES:
“The Hadley Harbor team, along with the broader Wellington platform, brings decades of experience investing across both private and public equity markets. 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.”
— Michael Carmen, CFA, co-head of Private Investments, at Wellington Management
“We are thrilled to have exceeded our $2.5 billion fundraising target with commitments and support from valued limited partners. Our ability to successfully raise over $6 billion since the fund’s inception demonstrates the power of our platform, and our clients’ confidence in our ability to execute.”
— Matt Witheiler, Consumer/Technology Sector Lead, at Wellington Management
