The firm will target stakes in funds of funds and secondaries funds with its latest vehicle, according to documents presented to a US pension fund.
The state's $769m Highway Patrol Retirement System is considering investing in secondaries.
Recent high pricing has encouraged the world's largest asset manager to be a seller on the secondaries market, according to managing director Johnathan Seeg.
The VC fund of funds manager's two current funds in market are targeting between 20-25% internal rates of return and up to a 3x multiple.
The sovereign wealth fund, an active player in the secondaries market, has named Yong Cheen Choo to the new role.
See which candidate sister publication Private Equity International's readers chose as best for the private equity industry.
High levels of dry powder and high pricing in the secondaries market is forcing firms to use leverage and chase staple deals to make purchases attractive.
The largest source came from a co-investment in Conversus Capital, from which HarbourVest Partners bought a $1.4bn portfolio in 2012.
The pension has approved a five-year plan, which will see it cut ties with more managers.
The pension, which is planning to commit $1.5bn to private equity this year, will not re-up into some funds.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: