HarbourVest Partners Secures $2.2 Billion Investment in Warburg Pincus Continuation Fund
Deal News | Dec 18, 2024 | Ropes & Gray
Ropes & Gray has successfully advised HarbourVest Partners as the lead investor in the first close of Warburg Pincus's inaugural multi-asset continuation fund, amassing over $2.2 billion in commitments. This significant financial milestone underscores HarbourVest's robust influence in the private markets, supported by its vast experience and extensive asset portfolio, which currently stands at over $127 billion under management. Warburg Pincus, a formidable entity in the private equity realm managing over $86 billion, looks to expand its asset management capabilities with this new fund, which promises new opportunities for growth and investment across various sectors. The legal advisory team was spearheaded by partners Isabel Dische and Dan Kolb, focusing on alternative asset opportunities and tax implications, respectively.
Sectors
- Private Equity
- Investment Management
- Legal Services
Geography
- United States – Likely relevant given that HarbourVest Partners, Warburg Pincus, and Ropes & Gray are all headquartered in the U.S., and the transaction was reported in a U.S. context.
Industry
- Private Equity – This industry is relevant due to the involvement of HarbourVest Partners and Warburg Pincus, both of which are key players in private equity investments.
- Investment Management – Relevant as the article discusses asset management and the establishment of a large-scale continuation fund.
- Legal Services – Ropes & Gray provided legal advice in the transaction, highlighting the role of legal expertise in structuring and closing complex investment deals.
Financials
- $2.2 Billion – The total commitments in the Warburg Pincus multi-asset continuation fund.
- $127 Billion – Assets under management by HarbourVest as of March 31.
- $86 Billion – Assets under management by Warburg Pincus.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| HarbourVest Partners | Lead Investor | Company | An independent global private markets firm with $127 billion in assets under management as of March 31. |
| Warburg Pincus | Fund Manager | Company | A private equity firm with over $86 billion in assets under management, managing a broad portfolio of companies. |
| Ropes & Gray | Legal Advisor | Company | A globally renowned law firm that advised HarbourVest on the legal aspects of their investment. |
| Isabel Dische | Alternative Asset Opportunities Partner | Person | Led the team advising HarbourVest in the transaction alongside Dan Kolb. |
| Dan Kolb | Tax Partner | Person | Part of the advisory team focusing on tax aspects during the transaction. |