HarbourVest promotes architect of FofF buyout

David Atterbury was promoted to managing director after sourcing and leading the acquisition of Absolute Private Equity in 2011.

HarbourVest Partners has promoted 11 of its team members to senior positions worldwide, including elevating David Atterbury to managing director, the firm announced in a statement.

Atterbury has sourced several secondary deals for HarbourVest, including the acquisition of the Swiss listed fund of funds manager Absolute Private Equity in September 2011. Atterbury also worked on the spin-out of Newquest Capital from Bank of America/Merrill Lynch in Hong Kong.

Prior to joining HarbourVest in 2004, Atterbury was a director of private equity at Abbey National Treasury Services.

In addition to promoting Atterbury to managing director, the firm also instituted a round of promotions across its European, Asian and US teams. In Europe, Carolina Espinal de Carulla, Claudio Siniscalco and Hannah Tobin were promoted to principal and Craig MacDonald was promoted to vice president.

Two members of the firm’s US team were promoted to principal; Ian Lane, who has been with HarbourVest since 2003 and focuses on direct co-investments in venture, buyout and mezzanine transactions and Aris Hatch, who manages relationships with North American investors and consultants. US team member McComma Grayson was promoted to vice president as well.

Three members of the firm’s Asian team were promoted. Kelvin Yap and Maggie Chan were both upgraded to vice president and Tim Flower was promoted to principal.

HarbourVest’s global private equity business grew substantially last year, its net asset value increased by 9.1 percent to $924 million for the six month period ending 31 July. The gain gives the Euronext-listed company its highest valuation since HVPE came to market in 2007, according to an unaudited report released in September.

The firm maintains offices in Boston, London, Hong Kong and Tokyo and has invested more than $9 billion in secondary purchases and $4 billion in direct investments since its inception.