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Private Equity International: Opening up access to private equity

February 17, 2021

To read the full interview, click here.

*This communication does not constitute an offer to sell or the solicitation of an offer to buy interests in any fund or investment product sponsored by HarbourVest Partners L.P. (“HarbourVest”), or investment services provided by HarbourVest or its affiliates. The opinions expressed herein represent the current, good faith views of the interviewees at the time of publication, are not definitive investment advice, and should not be relied upon as such. For additional legal and regulatory information related to HarbourVest offices and countries please refer here. 

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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”).