HarbourVest surpasses Dover Street IX target

The global investment firm has raised $3.9bn and held an interim close on its latest dedicated secondaries fund.

HarbourVest Partners has held an interim close on its latest secondaries fund on $3.9 million, according to a Securities and Exchange Commission filing.

While the fund’s target is $3.6 billion, Secondaries Investor understands the firm has not yet held the final close on the vehicle. The filing around comes a year after launch.

The Boston-headquartered investment firm received commitments from 255 investors to Dover Street IX. It was not clear what the fund’s hard-cap is.

Dover IX has received commitments from investors including Michigan Department of Treasury, Houston Firefighters’ Relief and Retirement Fund and Nebraska Investment Council, according to PEI Research & Analytics.

Dover IX’s predecessor, the $3.6 billion 2011-vintage Dover Street VIII, is ranked as the best performing fund in the Cambridge Associates private equity universe and has a net internal rate of return of 43.2 percent and an investment multiple of 1.36x invested capital, according to an investment document from the Ventura County Employees’ Retirement Association.

HarbourVest declined to comment.