The new fund launch comes one year after the introduction of Vanguard’s first private equity fund

Vanguard has launched its second private equity fund based on the strong investor demand it saw for its first, which, according to the company, recently closed at nearly double its target size.

Vanguard did not disclose the size of the first fund nor the target size of the new fund, which, like the first, is being offered to a “select and sophisticated subset of institutional clients” primarily through Vanguard Institutional Advisory Services, its outsourced chief investment officer (OCIO) service, according to a spokeswoman. She added that the company has “intentions to broaden availability over time.”

In a statement, Fran Kinniry, head of private investments at Vanguard, said, “The strong investor demand we saw for private equity in our first year further solidifies our belief that private equity can improve investor outcomes.”

The new fund, like Vanguard’s first private equity fund, is a partnership with HarbourVest, an independent, global private markets investment specialist.

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Source: Think Advisor