The $835m anchor investment was founded in January 2023 in an open-ended private equity solution.
It was also created for institutional and high net worth (HNW) investors outside the United States.
Since its establishment in 1982, HarbourVest has provided a variety of options from which clients can choose based on their unique investing requirements.
The open-ended nature of this new secondary and direct co-investment option adds to this portfolio by providing a liquidity-generating mechanism.
In addition, the relationship with AP7 reinforces HarbourVest’s dedication to the private client market by focusing on providing a solution for both institutional and private clients.
This started in 2007 with the now-listed HVPE, which provided daily liquidity to investors outside of the United States.
It continued in 2014 with the introduction of a global annual programme, which provided clients with a core diversified solution.
Furthermore, it advanced in 2016 with the founding of one of the first private client groups.
With 40 years of experience in the private market, and capacity to invest more than $10bn annually in direct co-investments and secondaries, HarbourVest is able to access a significant quantity of deals that it considers to be of high quality from senior executives working with open-architecture solutions.
Simon Jennings, managing director and head of HarbourVest’s private client group in EMEA and APAC said: “Private equity has historically outperformed public markets and offers the opportunity to deliver attractive returns at a time when private and institutional investors are looking for diversity and, if their investment parameters change, liquidity. This new solution provides this flexibility and access to investment solutions previously only available to very large institutional investors.”
Having worked in both EMEA and APAC for more than 20 years, Jennings has expertise working at the intersection of private markets and clients.
Per Olofsson, acting CIO at AP7 added: “During our 20-year partnership with HarbourVest, we have built a relationship based on collaboration, insights, and opportunity. This new open-ended solution presents a compelling opportunity to address AP7’s strategic objectives and continue to shape our private equity exposure achieving both short, and long-term goals.”
