Debevoise Closes $3.6B HarbourVest Secondaries Fund

Law360, New York (July 10, 2013, 1:35 PM EDT) -- HarbourVest Partners LLC said Wednesday that it had closed a $3.6 billion fund that will look to buy existing private equity assets in a scorching secondaries market.

Dover Street VIII LP beat its $3 billion target and was oversubscribed, HarbourVest said. It is the firm's largest fund to date, surpassing Dover Street VII, which closed at $2.9 billion in early 2009.

Investors include the Nebraska Investment Council, which committed $40 million, and the University of Vermont, a repeat HarbourVest backer. The Nevada System of Higher Education,...
To view the full article, register now.