HarbourVest Partners has secured $2.4bn in initial capital commitments for a new private credit secondary strategy, as demand for liquidity in the private debt market continues to drive growth in the secondary market, according to a report by the Wall Street Journal.
The report cites unnamed people familiar with the fundraising as revealing that the Boston-based alternative investment firm has raised the capital through several vehicles, including a senior credit secondary fund and an opportunistic credit secondary vehicle. The firm has not disclosed an overall target and plans to continue fundraising through 2027.
HarbourVest has already put around $500m to work across five transactions, comprising three GP-led deals and two transactions initiated by limited partners. The firm has several hundred million dollars of additional credit secondary opportunities in its pipeline, the people said.
GP-led deals represented approximately $17bn of the $20.4bn private credit secondary market during the first six months of 2026, according to Evercore. Total activity was more than twice the level recorded in the same period a year earlier.
HarbourVest’s LP-led transactions have included purchases of private credit assets from investors seeking to sell diversified portfolios. Its GP-led investments have focused on continuation vehicles designed to provide liquidity to investors in funds approaching or exceeding their original investment periods.
Last month, HarbourVest led the creation of a $730 million continuation vehicle for Willow Tree Credit Partners. 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.
HarbourVest has assembled a 16-person secondary team for the strategy, including 11 dedicated investment professionals, according to the people.
