Resilience and Resolve: Charting the Course for 2023

December 19, 2022

HarbourVest Co-CEOs John Toomey and Peter Wilson recap what was a successful 2022 for private markets despite geopolitical and macroeconomic headwinds, and share insights for the year ahead.

Topics include:
  • Highlights of our 40th year
  • How we navigated 2022’s choppy waters
  • Our reasons for optimism in 2023

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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”).