HarbourVest Partners, a global private markets asset manager, has held the final close of the HarbourVest Direct Lending Fund (HDL) at over USD892 million in limited partner commitments, including the General Partner commitment.
The Fund was oversubscribed and closed above the target size of USD600 million. This close follows the firm’s final close of Credit Opportunities Fund II, HarbourVest’s junior credit offering, earlier this year.
“We are pleased to mark the final close of our inaugural, dedicated direct lending fund, bringing our total capital under management for credit investments to over USD3.3 billion,” says John Toomey, Managing Director, HarbourVest Partners. “The past year has demonstrated the resilience of the asset class and reinforced our objective to broaden the reach of HarbourVest’s solutions to help clients invest in rapidly growing strategies.”
The Fund targets senior credit investments in private equity-backed middle-market companies, predominantly in North America. The Fund seeks to build a diversified portfolio including first lien, unitranche, and second lien debt that provides investors with consistent cash yield and strong downside protection.
Read more/Source: Private Equity Wire
