HarbourVest raises $3 bln for fifth co-investment fund

HarbourVest Partners has closed its oversubscribed fifth co-investment fund at a hard cap of $3 billion, beating its $2.5 billion target.

HarbourVest Partners Co-Investment Fund V’s investors include private and public pensions, corporations, foundations and family offices, as well as clients through wealth management platforms. The fund will target direct co-investments in buyout, growth equity and other private markets deals.

In July 2017, HarbourVest closed its fourth co-investment fund at a hard cap of $1.75 billion, sweeping past its $1 billion target. No performance data was available on the fund.

According to the firm, HarbourVest has more than $63 billion in assets under management, as of Sept. 30, 2019.