Warburg Pincus has completed the first close of its inaugural multi-asset continuation fund, securing commitments exceeding $2.2bn from HarbourVest Partners, Ardian, and the Canada Pension Plan Investment Board (CPP Investments), according to a report by Alternatives Watch.
The transaction underscores HarbourVest’s growing prominence in the secondary market and its increased activity in recent months.
In October, the firm led Insight Partners’s third continuation fund, which closed with approximately $1.5bn in commitments.
Earlier this year, HarbourVest finalised its Dover Street XI private equity secondaries fund at $15.1bn, alongside $3.4bn allocated to its Secondary Overflow Fund V for co-investment opportunities with Dover XI in select secondary deals.
The continuation fund offers flexibility for existing limited partners, allowing them to either realise immediate liquidity by selling their stakes or retain exposure through rolling their interests into the new fund.
