HarbourVest opens second new office this year

The alternatives manager has opened an office in mainland Europe to tap into growing institutional and private wealth demand.

HarbourVest Partners has opened its first office in mainland Europe after expanding its Asian presence last month.

The $76 billion alternatives manager has opened an office in Frankfurt in response to increased demand from institutional and private wealth clients, according to a statement seen by Secondaries Investor. Investment, investor relations and operational staff will have a presence there.

HarbourVest Partners (Ireland) Limited, Zweigniederlassung will be led by managing director Olav König and newly appointed principal Martina Schliemann, the statement said.

Schliemann was previously a managing director with Hamilton Lane in Frankfurt and has worked at Muzinich & Co, Deutsche Asset Management and Credit Suisse, according to her LinkedIn profile.

“The German market is one of the strongest and most influential in Europe with institutional, private client and wealth management channels continuously increasing their allocation to private markets and seeking innovative solutions from investment managers,” said managing director Peter Wilson.

The firm has been active in Germany for more than 30 years, investing in the country and managing capital for limited partners, the statement noted.

Last month Private Equity International reported that HarbourVest had sought regulatory approval for an office in Singapore. It aims to establish relationships with up-and-coming general partners in Southeast Asia and to grow in line with Indian and Chinese partner GPs that are expanding their footprints there.

The Germany opening grows HarbourVest’s network of offices to 12 across EMEA, the Americas, and Asia-Pacific.