HarbourVest wraps up fourth co-investment fund at $1.75 bln

HarbourVest Partners has closed its fourth oversubscribed co-investment fund at a hard cap of $1.75 billion, beating its original $1 billion target.

The limited partners of HarborVest Partners Co-Investment IV include private and public pensions, corporations, foundations and family offices from all over the world.

So far, HarbourVest Partners has deployed 30 percent of its capital in 11 co-investments which include EQT Partners‘ take-private acquisition last fall of Wakefield, Massachusetts-based Press Ganey, a healthcare database company, for $40.50 per share. Also, the fund made an undisclosed co-investment with ABRY Partners in Grand Rapids, Michigan-based Acrisure, a national retail insurance broker that led a management buyout of the company from Genstar Capital in October.

In 2013, HarbourVest raised its previous co-investment fund at $1 billion, sweeping past its $750 million target. No performance data was available on the fund.

According to the firm, HarborVest has more than $40 billion in assets under management.

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