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HarbourVest and Cube Capital Launch Joint Venture
BOSTON — 02 December 2005 — HarbourVest Partners, LLC, a leading global private equity investment firm, and Cube Capital, an investment management and advisory firm, today announced the completion of a structured secondary transaction involving a portfolio of limited partnership interests in premium quality private equity funds.In this transaction, the two organizations have created a joint venture, Cube Dover V, LLC, to acquire a pool of assets, which represent approximately $48 million in original fund commitments. The structure of the deal allows both firms to share in the future economics of the portfolio.
"HarbourVest is delighted to complete this transaction and looks forward to developing its relationship with Cube, as well as exploring future investment opportunities together," said Brett A. Gordon, a principal of HarbourVest.
About Cube Capital
Cube Capital is an international investment management and advisory firm. Cube manages a private equity portfolio, a family of global and regional funds of hedge funds, and provides investment advisory services in emerging markets. The firm maintains offices in London, Moscow, and Hong Kong. To learn more about Cube Capital visit http://www.cubecap.com/.
About HarbourVest
HarbourVest Partners, LLC is an independent global private equity investment firm and registered investment advisor, providing vehicles for institutional investors to invest in the venture capital and buyout markets in the U.S., Europe, and elsewhere through primary partnerships, secondary purchases, and direct investments. HarbourVest and its subsidiaries have 141 employees, including 56 investment professionals, deployed in Boston, London, and Hong Kong. In 25 years of investing in private equity, the team has committed more than $10.8 billion to newly formed funds, representing relationships with 200 private equity managers. The team has also completed over $3.4 billion in purchases of 460 secondary partnership interests, and invested $2.2 billion directly in operating companies. The firm's clients consist of 240 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/.