HarbourVest Partners closed its latest alternative investment flagship fund, HarbourVest Fund XI, with $2.61 billion, exceeding its $2 billion fundraising target, spokesman Chris Gillick said in an email.
The new fund is also 74% larger than its predecessor, HarbourVest Fund X, which closed with about $1.5 billion.
Investors in the fund, which is expected to invest in U.S. buyout funds as well as make secondary investments and direct co-investments, include the Vermont Pension Investment Committee, Montpelier, which runs for the $4.5 billion Vermont State Retirement Systems; $1.6 billion Louisiana Firefighters' Retirement System, Baton Rouge; and $80 million Calvert County Employees Retirement Plan and the Calvert County Sheriff's Department Pension Plan, both in Prince Frederick, Md.
