HarbourVest Seeks $2b for Secondaries

HarbourVest Partners is targeting $2 billion for a dedicated secondaries fund, according to regulatory filings. Called Dover Street VII, the vehicle already had secured over $940 million in commitments as of February. Goldman Sachs, Deutsche Bank Securities and Lehman Brothers are serving as placement agents.

HarbourVest has traditionally made secondary deals out of both its Dover Street and general fund-of-funds vehicles, but LBO wire reports that it plans to shift toward only doing secondaries out of Dover Street. www.harbourvest.com