Real Assets Fund IV raised $456 million, with managing director Kevin Warn-Schindel saying in a statement that HarbourVest’s “deep relationships, and ability to deliver customised liquidity solutions for general partners and limited partners” would prove a differentiating factor as the market for infrastructure and real assets grows.
Ventura County Employees Retirement Association, which committed $100 million, and City of Manchester Employees’ Contributory Retirement System are among the LPs in the fund, according to data from sister publication Infrastructure Investor.
Secondaries Investor reported in May that the fund was targeting $700 million for vanilla and complex secondaries transactions in the energy, power, infrastructure and natural resources sectors. HarbourVest also upped the fund’s preferred return to 8 percent from 7 percent and carried interest to 12.5 percent from 10 percent compared with its 2016-vintage predecessor.
Here’s how the fund compares to its predecessors: