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HarbourVest Hires Randy Parker to Focus on Real Estate Investments
BOSTON — 16 April 2008 — HarbourVest Partners, LLC (the “Firm”), a leading global alternative investment firm, today announced that Mr. Randy Parker has joined the Firm as a Principal. Mr. Parker will focus on investments in real estate private equity funds and related opportunities.HarbourVest, which has managed private equity investments for more than 25 years, is expanding its investment scope to include real estate fund investments. Investing in real estate funds is a natural extension of the Firm’s broad global platform, which includes venture, buyout, mezzanine debt, and distressed debt, accessed through primary partnerships, secondary purchases, and direct investments. The Firm intends to leverage its extensive experience evaluating and selecting fund managers and its established investment process to select real estate partnership investments. The broader focus within the alternative investment arena is consistent with the Firm’s strategy of utilizing the team’s investment expertise and long-term relationships to provide a high-quality, comprehensive product offering for institutional investors.
“Real estate investing is a continuation of HarbourVest’s development and reinforces our role as a leader in the industry,” said Kevin Delbridge, a Senior Managing Director of HarbourVest. “Throughout our history, we have continued to evolve — identifying and evaluating new opportunities around the world, gaining invaluable expertise, and developing a strong network of sought-after partners along the way. Real estate is an opportunity to apply our team’s skills and expertise to a growing asset class and provide our clients with solutions to their investment needs in an increasingly complex and global environment.”
Mr. Parker’s experience in real estate investment management includes capital formation, portfolio management, asset management, and investment origination. Most recently, Mr. Parker was Managing Director of Composition Capital Partners, a global real estate fund of funds firm based in The Netherlands. Mr. Parker also served as Senior Managing Director at Beacon Capital Partners, LLC, a Boston-based real estate investment firm. During his ten years at Beacon and its predecessor public company, Mr. Parker was responsible for capital formation, investor relations, and investment strategy, serving as Chairman of the Investment Committee. Prior to Beacon, he spent eight years at AEW Capital Management, where his responsibilities included portfolio management for institutional clients.
“We are pleased to welcome Randy to the team,” said Ed Kane, Senior Managing Director and a founder of the firm. “He brings over 20 years of experience in real estate investment management to HarbourVest and will be a tremendous addition to our talented, experienced, and cohesive team.”
Mr. Parker received a Bachelor of Architecture from the University of Kentucky in 1981 and an MBA in Finance with a Real Estate Concentration from the Wharton School at the University of Pennsylvania in 1988. He is a member of the Pension Real Estate Association and the Association of Foreign Investment in Real Estate.
About HarbourVest
HarbourVest Partners, LLC is an independent global alternative investment firm and an SEC- registered investment advisor. HarbourVest provides investment programs for institutional investors to invest in venture capital, buyout, mezzanine debt, distressed debt, and real estate. HarbourVest invests in these sectors globally through primary partnerships, secondary purchases, and direct investments. HarbourVest and its subsidiaries have 193 employees, including 70 investment professionals deployed in Boston, London, and Hong Kong. In over 25 years of investing in private equity, the team has committed more than $19.8 billion to newly formed funds, representing relationships with 200 private equity managers. The team has also completed over $5.0 billion in secondary purchases and invested $3.1 billion directly in operating companies. The firm’s clients consist of 250 institutional investors, including pension funds, endowments, foundations, and financial institutions throughout the U.S., Canada, Europe, Australia, and Japan. To learn more about HarbourVest, visit http://www.harbourvest.com/.