HarbourVest's Annual ESG Report

Governance and resourcing

We have built a robust oversight structure to support our ongoing ESG implementation efforts. Our Executive Management Committee (EMC) is ultimately responsible for our ESG Policy and objectives, with critical inputs from both our ESG Council and ESG team, the latter of which reports into our Head of Investments and works closely with our investment teams to integrate ESG factors into our investment processes.

We have made important additions to our ESG leadership groups over the past year to ensure they are appropriately designed to execute our ambitious strategy and adequately resourced to support our clients. 

ESG Council

Our ESG Council was restructured in 2023 to enhance its ability to make key strategic decisions regarding our ESG program. Members include a cross-functional representation of senior leaders across the firm who meet regularly throughout the year.

ESG team

Our ESG team was formed in 2019 to work with investment teams and client-facing functions as a specialist resource and is responsible for bringing key strategic proposals to the ESG Council for consideration. We expanded our ESG team in 2022 to now include three dedicated team members across regions.

Natasha Buckley - HarbourVest

Natasha Buckley

Vice President

Natasha is based in London and joined HarbourVest in 2019. She leads interaction across the firm to embed ESG considerations into investment and client processes.

Laura Mitchie - HarbourVest

Laura Michie

Associate

Laura is based in London and joined HarbourVest in 2022. She is focused on identifying ESG risks and opportunities as a regular participant at investment committee meetings.

Will Relle - HarbourVest

Will Relle

Director

Will is based in Boston and joined HarbourVest in 2022. He is focused on client support to help investors achieve their ESG-related objectives.

ESG investment team leads

Our investment strategy teams each have assigned ESG investment leads who provide oversight of ESG integration and work closely with our ESG team to continuously strengthen practices. ESG investment processes are the responsibility of each investment team member and we place a high priority on regular staff training around our ESG objectives, process, and developments in our approach.

ESG Forum

At the end of 2023, we are launching the HarbourVest ESG Forum, a consortium of HarbourVest professionals responsible for representing their respective functions at quarterly meetings to learn about key updates from our ESG team and report back to their respective teams. As HarbourVest continues to grow, the ESG Forum will bring colleagues across our global functions together to provide an effective channel for both disseminating updates on our ESG program and offering feedback.

Continuation solutions encompass a host of transaction types in which a GP secures interim liquidity and/or additional primary capital for their LPs in a strongly performing asset, or set of assets, that the GP will continue to own and control. Specifically, they include continuation funds, new funds created by GPs for the purpose of acquiring the asset(s) that continue to be managed by the same GP and capitalized by one or several secondary buyers, or equity recapitalizations involving a direct equity or structured equity investment into a portfolio company. These transactions can also include a parallel investment from the GP’s latest fund into that same pool of assets (a “cross-fund trade”).