HarbourVest Partners has raised $865m (€731m) from global investors in a final close for its latest infrastructure fund focused on secondaries transactions and co-investments.
Infrastructure Opportunities Fund (IOF III) raised nearly double the amount of its predecessor in the series, securing investment from existing investors and 18 new limited partners (LPs) “across diverse channels and geographies”.
IOF III has been deploying capital since December 2023 and HarbourVest said it was providing “early liquidity having built a diversified portfolio spanning traditional and emerging infrastructure sectors”.
Michael Dean, managing director at HarbourVest, said: “We’re deeply grateful for the continued support from our existing LPs and excited to welcome new partners to IOF III.
“By leveraging our global platform, trusted relationships and deep asset-class expertise, our multi-manager approach can unlock long-term value for investors.
“With infrastructure secondaries still vastly undercapitalised and demand for liquidity rising, HarbourVest believes it is well positioned to deliver resilient performance and enhance portfolio durability in today’s dynamic market.”
HarbourVest has been active in infrastructure since 2014, leveraging its deep experience across private markets. The firm’s overall secondaries platform, which includes private equity and infrastructure, represents a significant portion of its $147bn AUM and offers investors scale, access, and insights across asset classes.
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