BOSTON-HarbourVest Partners, a global private markets investment specialist, today announced the final close of its HIPEP IX Fund at over $1.6 billion in commitments. The Fund closed above the target size of $1.25 billion.
HIPEP IX provides investors with access to leading private equity managers and investments in Europe and Asia Pacific, the two major private equity markets outside of the United States. The primary program is complemented by secondary transactions and direct co-investments which are designed to potentially accelerate performance and enhance overall returns. There is an attractive market opportunity in Europe and Asia Pacific, which jointly comprise 63% of global GDP and represent almost 59% of global economic growth¹.
“Our HIPEP program is a reflection of the continued demand from investors for focused private equity solutions,”said Till Burges, Managing Director, HarbourVest Partners. “With a large and growing team, HarbourVest has had a presence in Europe for over 30 years and in Asia for over 25 years, committing more than $29 billion across multiple business cycles².”
The fund was supported by global limited partners from four continents, including public and private pension funds, and endowments.
“The fund is designed to focus on the leading managers across key investment themes in Europe and Asia, and exposure to the next generation of emerging managers in these regions,”continued Burges. “HarbourVest’s deep local expertise combined with the benefits of our global platform allows us to provide investors with hard-to-access opportunities in these two core markets.”