HarbourVest announced closing its latest co-investment vehicle at USD 1 billion, which is about 260 million dollars more than it had committed to its last such vehicle, raided in 2007 Direct, a $734 million fund. The news shows that corporate pensions, public pensions, endowments, and foundations from around the globe have a strong appetite for the co-investment strategy.
Elsewhere, FN says that aggregate global private equity co-investment fundraising reached USD 6.2 billion across 26 funds last year, citing Preqin. “This was a huge jump from the 12 funds that raised USD 2.7 billion in 2012 and the highest year since 2007, when 28 funds raised USD 10.9 billion,” said FN. (Image source. Harbourvest)