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HarbourVest Global Private Equity will have exposure to the following three types of private equity investment strategies, which are also the primary lines of business of HarbourVest:
- Primary Investments: HarbourVest's principal investment strategy,
consisting of commitments to private equity funds during their initial
fund-raising;
- Secondary Investments: purchases of private equity fund interests
after such funds' initial fund raising and after some or all capital
has been invested by such funds, as well as purchases of portfolios
of interests in operating companies; and
- Direct Investments: direct purchases of interests in operating companies,
usually consisting of proprietary opportunities to invest alongside
leading private equity sponsors.
All investments in the above strategies will be accessed via:
- investments in HarbourVest funds during initial fund-raising;
- parallel investments alongside HarbourVest funds; and
- purchases of limited partnership interests in HarbourVest funds from existing
investors.
HarbourVest Global Private Equity's investments will be highly diversified across:
- geography, providing exposure to private equity funds investing
in the United States, Europe, Asia, and other private equity markets;
- stage of investment, providing exposure to, for example, early stage, balanced
and late stage venture capital, small and middle market leveraged
buyouts, large capitalisation leveraged buyouts, mezzanine investments,
and special situations such as restructuring funds or distressed
debt;
- vintage year, providing exposure, through Primary, Secondary and Direct Investment
strategies, to investments made across many years; and
- industry, with investments exposed, directly or indirectly, to a large number
of different companies across a broad array of industries.
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