HarbourVest Partners, a global, independent private markets asset manager, closed its eleventh dedicated private equity secondaries fund, Dover Street XI. The fund was oversubscribed and closed at its hard cap of $15.1 billion, including the general partner’s commitment. In addition, the firm held a final close for Secondary Overflow Fund V at $3.4 billion for secondary co-investment opportunities. This fundraising cycle was completed without extension and complements additional secondaries allocations across other separately managed accounts and commingled funds.
“More than 35 years after our first secondary transaction, the continued success of our secondaries program is a reflection of our team’s dedication to building an investment pipeline that benefits investors across multiple strategies and separately managed accounts,” John Toomey, managing director of HarbourVest Partners, said. “Through our platform approach and access to decades of data across strategies, our firm has deep institutional relationships that position us as a trusted and reliable investment partner.”
“The secondaries market has grown in both size and complexity, and HarbourVest continues to differentiate ourselves in our ability to deliver customized liquidity solutions to GPs and LPs at scale,” Jeff Keay, managing director of HarbourVest Partners, said. “Our global secondaries team has decades of experience working together, delivering bespoke LP-led and GP-led solutions.”
