HarbourVest closes $1.1bn private markets secondaries fund

HarbourVest Partners has closed its private markets secondaries fund with an investable capacity of $1.1bn (£798m).

The HarbourVest Partners Structured Solutions strategy invests in both private equity and private credit secondaries and is built on a diversified portfolio over 400 funds, more than 100 general partners and over 10 vintages.

HarbourVest and Ares Alternative Credit funds have agreed to capitalise the vehicle, while funds managed by Blackstone Credit and Insurance (BXCI) are providing senior financing.

“We are thrilled to partner with Ares and BXCI on this innovative structured solution that we believe meets the evolving needs of institutional investors seeking tailored exposures to private market secondaries,” said Jeff Keay, chairman of HarbourVest’s secondaries investment committees.

HarbourVest Partners is a global private markets investment firm with nearly $150bn in assets under management.

“We are pleased to provide our scaled, flexible capital to support a HarbourVest-managed vehicle, building on our longstanding relationship,” said Richard Sehayek, partner and co-head of European alternative credit at Ares. “This transaction is a testament to growing demand for innovative fund finance solutions, and we look forward to deepening our participation in this expanding market.”