Private markets asset manager HarbourVest Partners has opened an office in Sydney to serve its institutional and private wealth customers in Australia and New Zealand.

The new office is the company’s first branch in Australia and the sixth in Asia Pacific.

It has expanded HarbourVest’s global presence to 13 sites throughout the Americas as well as Europe, the Middle East and Africa (EMEA) and Asia Pacific regions.

The Sydney office will offer clients wide array of solutions such as primary funds, secondary transactions, direct co-investments, in addition to real assets and infrastructure and private credit.

Warwick Mancini, who will lead the office, will look after the business development efforts and maintain relations with clients in the region.

With a total of $6.9bn of assets under management (AUM), HarbourVest has been operating in Australia and New Zealand for more than 35 years.

Since 2019, the firm has been serving 13 new customers and managing $1.8bn of AUM in the region.

HarbourVest managing director Peter Wilson said: “The establishment of a local Australian presence reflects the significant growth of this region as well as the increased interest in the alternative assets classes we observe among investors in Australia and New Zealand.

“This is an exciting stage in the firm’s evolution as we continue to grow our capabilities across Asia Pacific and further deepen our connections with local clients.”

In July last year, HarbourVest announced the opening of its new office in Frankfurt, Germany to satisfy the growing demand from its wealthy clients in the country.