HarbourVest Hires Steve Belgrad as Principal
BOSTON — 02 September 2008 — HarbourVest Partners, LLC ("HarbourVest" or the "Firm"), a leading global alternative investment firm, today announced that Mr. Steve Belgrad has joined the Firm as a Principal. In this role Mr. Belgrad will serve as the Chief Financial Officer of HarbourVest Global Private Equity Limited ("HVPE").
HarbourVest Global Private Equity Limited is a closed-end investment company listed on Euronext Amsterdam by NYSE Euronext, managed by HarbourVest Advisers L.P., an affiliate of HarbourVest Partners, LLC. HVPE is designed to offer shareholders long-term capital appreciation by investing in a private equity portfolio diversified by geography, stage of investment, vintage year, and industry. It is the only means to access HarbourVest's investment strategy through a publicly-traded vehicle.
"We are delighted to welcome Steve to the team," said Brooks Zug, Director of HVPE and a Senior Managing Director of HarbourVest. "Steve's capital markets knowledge, broad asset management network, and public markets experience will be valuable additions to the HarbourVest team and our management of HVPE."
Mr. Belgrad is based in Boston and, upon receiving clearance from the Guernsey Financial Services Commission, will succeed John Toomey, who has been acting in an interim role, as the CFO of HVPE. As intended, Mr. Toomey, also a Principal of the Firm, will be devoting more time to his role as a member of the secondary investment team.
Most recently, Mr. Belgrad was a Vice President in the New Investments Group of Affiliated Managers Group (NYSE: AMG), an asset management company with equity investments in a group of boutique investment management firms. Mr. Belgrad also served as Senior Vice President and Treasurer of Janus Capital Group (NYSE: JNS). During his three years at Janus, Mr. Belgrad was responsible for treasury, investor relations, financial planning and analysis, budgeting, and corporate strategy and development. Prior to joining Janus, he was an Executive Director in the Financial Institutions Group at Morgan Stanley & Co., where he was responsible for client coverage and execution of M&A and Corporate Finance projects in the Investment Management Sector. This was one of several positions that he held at Morgan Stanley between 1985 and 2003.
Mr. Belgrad received a Bachelor of Arts in Economics from Princeton University in 1985 and an MBA from the Harvard Business School in 1990.
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 207 employees, including 74 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/.