HarbourVest Partners Closes Dedicated Core Infrastructure Vehicle
13 November 2020
Adelaide Closes at $384 Million
BOSTON – HarbourVest Partners, a global private markets asset manager, today announced the final close of Adelaide, its dedicated core infrastructure vehicle. The fund closed at $384 million.
“It is exciting to close Adelaide, given our demonstrated expertise executing liquidity solutions for the core infrastructure market,” said Kevin Warn-Schindel, Managing Director, HarbourVest. “The HarbourVest team has been investing in infrastructure since 2008, and we were among the first managers to create a dedicated infrastructure secondaries team in 2014. This focus has allowed our team to invest approximately $1.2 billion across more than 20 transactions in infrastructure over the last decade.”
The fund targets long-term, low-risk, cash-generating core and core plus infrastructure assets, principally located in North America, Western Europe and Australia. The fund’s deal-oriented strategy is to focus on growing opportunities for liquidity solutions in the inefficient core infrastructure market, which drives stronger return potential.
“Specialized programs, such as our dedicated infrastructure fund, demonstrate our continued emphasis on helping clients invest in strategies that may otherwise be difficult to access,” continued Warn-Schindel. “As the infrastructure market matures, we expect HarbourVest to continue to play a critical role in providing liquidity solutions for institutional investors, general partners and strategic investors by generating attractive deal flow potential for our limited partners.”
The fund received support from a global group of institutional investors.
HarbourVest is an independent, global private markets investment specialist with over 35 years of experience and more than $69 billion in assets under management, as of June 30, 2020. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 600 employees, including more than 145 investment professionals across Asia, Europe, and the Americas. This global team has committed more than $42 billion to newly-formed funds, completed over $25 billion in secondary purchases, and invested over $18 billion directly in operating companies. Partnering with HarbourVest, clients have access to customized solutions, longstanding relationships, and actionable insights.