Secondary Transactions
HarbourVest has completed a number of significant secondary market investments in private equity:
- 2008 - Macquarie Capital Alliance, in June 2008, announced a takeover offer from a consortium of private equity secondary firms including AlpInvest Partners, HarbourVest Partners, Pantheon Ventures, Partners Group, Paul Capital Partners, Portfolio Advisors and Procific (a subsidiary of the Abu Dhabi Investment Authority) in one of the first public to private transactions of a publicly traded private equity company completed by secondary market investors.
- 2007 - California Public Employees' Retirement System (CalPERS) agrees to the sale of $2.1 billion portfolio of legacy private equity funds at the end of 2007, after a process that had lasted more than a year. The buying group included Oak Hill Investment Management, Conversus Capital, Lexington Partners, HarbourVest, Coller Capital and Pantheon Ventures.
- 2006 - American Capital Strategies sells a $1 billion portfolio of investments to a consortium of secondary buyers including HarbourVest Partners, Lexington Partners and Partners Group
- 2003 - HarbourVest acquired a $1.3 billion of private equity fund interests in over 50 funds from UBS AG through a joint venture transaction
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Famous quotes containing the word secondary:
“A man may be defeated by his own secondary successes.”
—Woodrow Wilson (1856–1924)