Fund V came to market in January 2018, half a year after HarbourVest closed the firm’s prior co-investment fund, HarbourVest Partners Co-Investment Fund IV, which also reached its hard cap. Fund IV raised $1.75 billion after targeting $1 billion and was in market for 14 months, closing in June 2017.
HarbourVest’s co-investment vehicles target direct co-investments in buyout, growth equity and other private markets deals.
Fund V’s investors include private and public pensions, corporations, foundations and family offices, as well as clients through wealth management platforms. US pensions contributed at least $236 million to the fund, according to PEI data.
- Vermont State Retirement System committed $25 million
- Parochial Employees’ Retirement System of Louisiana committed $40 million
- Ventura County Employees Retirement Association committed $35 million
- Virginia Retirement System committed $100 million
- Quincy Retirement System committed $4 million
- Plymouth County Retirement System committed $12 million
- San Antonio Fire and Police Pension Fund committed $20 million
- Ohio State Highway Patrol Retirement System committed an undisclosed amount
Australia’s Energy Super also committed to the fund, though the amount was not disclosed.