US-based private markets asset manager HarbourVest Partners has held a final close of its HIPEP IX Fund, a vehicle that will invest in Europe and the Asia-Pacific, at over $1.6bn.
The fund close surpassed its target of $1.25bn, HarbourVest said in a statement.
The firm said its primary business, complemented by secondary transactions and direct co-investments, was expected to accelerate performance and enhance overall returns, with attractive market opportunities in Europe and the Asia Pacific. The two regions jointly made up 63% of global GDP and represented almost 59% of global economic growth by the end of September 2021.
HIPEP IX’s predecessor fund, HIPEP VIII, closed in 2018 at $1.7bn, which was 13% more than the seventh fund that was raised in August 2015.
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