London, UK – HarbourVest Partners, a global private markets investment specialist, today announced its partnership with AP7, a Swedish government pension fund, as a founder investor in a new private equity strategy. The $835 million USD anchor investment was made in January 2023 in a new open-ended evergreen private equity solution designed for non-US institutional and High Net Worth (HNW) investors.
HarbourVest has offered a range of solutions which clients can select depending on their specific investment needs since it was founded in 1982. The open-ended nature of this new secondaries and direct co-investment solution further complements this range by including a liquidity-generating mechanism.
The partnership with AP7 is focused on delivering a solution for both institutional and private clients and continues HarbourVest’s commitment to the private client segment. This began in 2007 with the now London-listed HVPE offering daily liquidity to non-U.S. investors, it continued in 2014 with the launch of a global annual programme offering clients a core diversified solution, and it progressed further in 2016 with the creation of one of the first dedicated private client groups.
HarbourVest’s 40-year private market tenure, scale, and ability to deploy more than $10 billion per annum in direct co-investments and secondaries enables the firm to access a large volume of what HarbourVest believes are quality deals from leading managers across open-architecture solutions.
“Private equity has historically outperformed public markets and offers the opportunity to deliver attractive returns at a time when private and institutional investors are looking for diversity and, if their investment parameters change, liquidity,” said Simon Jennings, Managing Director and head of HarbourVest’s private client group in EMEA and APAC. “This new solution provides this flexibility and access to investment solutions previously only available to very large institutional investors.”
Simon has over 20 years of experience operating at the cross-section of private markets and clients, both in EMEA and APAC.
“During our 20-year partnership with HarbourVest, we have built a relationship based on collaboration, insights, and opportunity,” added Per Olofsson, acting CIO at AP7. “This new open-ended solution presents a compelling opportunity to address AP7’s strategic objectives and continue to shape our private equity exposure achieving both short, and long-term goals.”
Olofsson continues, “While this solution started as a private client initiative, we have seen its effectiveness in helping to augment existing alternative allocations for institutional investors.” 1
ABOUT HARBOURVEST PARTNERS
HarbourVest is an independent, global private markets firm with 40 years of experience and more than $106 billion of assets under management as of December 31, 2022. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,000 employees, including more than 215 investment professionals across Asia, Europe, and the Americas. Across our private markets platform, our team has committed more than $55 billion to newly-formed funds, completed over $46 billion in secondary purchases, and invested over $33 billion in directly operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.
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AP7 (Sjunde AP-Fonden) is the default alternative within the Swedish Premium Pension system with 5.5 million savers and SEK 1000 billion AUM in global equities, fixed income and alternative investments. With a diversified equity portfolio of more than 3,000 companies, AP7 has an ESG-strategy that focuses on active universal ownership and systemic risks. Read more at www.ap7.se.
- AP7 is a client of HarbourVest and has invested in a number of HarbourVest products.