HarbourVest wraps up eighth Europe, Asia and EM fund at $1.7 bln

HarbourVest Partners, the Boston private equity firm, has closed its oversubscribed eighth flagship Europe, Asia, and emerging-markets-focused fund at $1.7 billion.

HIPEP VIII Partnership will target primary fund investments, secondary investments and direct co-investments.

The fund’s limited partners include private and public pensions, corporations, foundations and family offices, as well as clients through private distribution partners.

HIPEP VIII Partnership has a planned three-to-four-year investment period. So far, the fund has deployed about 29 percent of its capital, making 10 commitments to PE managers in Europe and Asia-Pacific.

In August 2015, HIPEP VII Partnership closed at $1.5 billion. No performance data was available on the fund.

Currently, HarbourVest is managing more than $49 billion in assets.

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