HarbourVest Partners has secured $2.4bn in initial capital commitments for a new private credit secondary strategy, according to Private Equity Wire. The fundraising was reported by the Wall Street Journal and cited unnamed people familiar with the process, according to Private Equity Wire.
Fundraising structure and timeline
The unnamed sources said the Boston-based alternative investment firm raised the $2.4bn through several vehicles, including a senior credit secondary fund and an opportunistic credit secondary vehicle, according to Private Equity Wire. HarbourVest has not disclosed an overall target for the strategy, according to Private Equity Wire. The firm plans to continue fundraising through 2027, according to Private Equity Wire.
Deployment to date and pipeline
HarbourVest has already put around $500m to work across five transactions, comprising three GP-led deals and two transactions initiated by limited partners, according to Private Equity Wire. The unnamed people also said the firm has several hundred million dollars of additional credit secondary opportunities in its pipeline, according to Private Equity Wire.
HarbourVest’s LP-led transactions have included purchases of private credit assets from investors seeking to sell diversified portfolios, according to Private Equity Wire. HarbourVest’s GP-led investments have focused on continuation vehicles designed to provide liquidity to investors in funds approaching or exceeding their original investment periods, according to Private Equity Wire.
Market data cited
GP-led deals represented approximately $17bn of the $20.4bn private credit secondary market during the first six months of 2026, according to Evercore, as reported by Private Equity Wire. Total activity was more than twice the level recorded in the same period a year earlier, according to Evercore, as reported by Private Equity Wire.
Recent transaction and team build-out
Last month, HarbourVest led the creation of a $730 million continuation vehicle for Willow Tree Credit Partners, according to Private Equity Wire. The transaction involved a portfolio of approximately 130 securities, predominantly first-lien loans to sponsor-backed companies, from funds established by Willow Tree in late 2020 and early 2021, according to Private Equity Wire.
HarbourVest has assembled a 16-person secondary team for the strategy, including 11 dedicated investment professionals, according to the unnamed people cited by Private Equity Wire.
