HarbourVest closes fund

Fund-of-funds manager HarbourVest Partners has raised US$2.9bn for its global secondaries fund, Dover Street VII.

Hitting its cap and oversubscribed, the vehicle attracted investment from 197 institutional investors, including corporate pensions, public pensions, endowments, and foundations.

It will invest in venture and leveraged buyouts, as well as other private equity assets, as well as taking secondary positions in portfolios.