HarbourVest Global Private Equity (HVPE), HarbourVest Partners‘ listed fund of funds, committed $100 million to two of the firms’ secondaries funds in February.
The listed vehicle committed $50 million to the firm’s real assets secondaries fund, according to a statement. HarbourVest Real Assets Fund III was registered in the UK last June, according to a filing with Companies House, and in the US in February, according to a filing with the Securities and Exchange Commission.
Real Assets Fund III’s target is between $350 million and $500 million, according to a source familiar with the fundraising.
The firm’s previous real assets-focused vehicle, HarbourVest Partners Cleantech Fund II, closed below its $250 million target on $105 million in 2012, while HarbourVest Partners Cleantech Fund I closed above its $150 million target on $203 million in 2008, according to Infrastructure Investor Research and Analytics.
HVPE also committed $50 million to HarbourVest’s global secondaries fund. HarbourVest is currently in market with Dover Street IX, a dedicated secondaries fund, seeking around $3.6 billion.
HVPE also received $21 million in realisations from 30 exits during February. Two of the four IPOs were held through its secondaries portfolios, including the public listing of media company Ascential Group, held via Apax Partners, and Countryside Properties, a UK property developer, held via Oaktree Capital, according to the statement.
As of 29 February, HVPE’s estimated net asset value (NAV) was $16.55 per share, little changed from $16.56 in January.
A spokesman for HarbourVest did not return requests for comment about the firm’s real assets fund.