HarbourVest Partners has appointed private credit veteran Tony Ranaldi as managing director of Evergreen Portfolio Management, as the private markets firm expands its evergreen platform across direct lending and credit secondaries.
Based in Boston, Ranaldi will oversee portfolio construction and investment strategy for HarbourVest’s Private Credit Evergreen solutions, with responsibility also covering investment monitoring, liquidity management and portfolio risk.
His appointment comes as HarbourVest develops investment structures aimed at giving institutional and wealth investors continuing access to private markets rather than the fixed investment and realisation periods associated with traditional closed-end funds.
The evergreen approach places greater emphasis on ongoing capital deployment, portfolio construction and liquidity management as investors can subscribe to the vehicles and capital can be deployed and recycled over time.
Ranaldi brings almost 30 years of experience across private credit, opportunistic credit and private equity. He joins HarbourVest from Sixth Street, where he was a senior adviser focused on sourcing and evaluating private credit investments.
He previously founded Tucks Point Partners and held senior investment and portfolio management roles at Berkshire Partners and DDJ Capital Management.
A particular area of focus for Ranaldi will be credit secondaries, where investors acquire interests in existing private credit funds or portfolios. Such transactions can provide exposure to more mature underlying assets while offering investors an additional route into the private credit market.
Ranaldi said HarbourVest’s multi-manager model gives the firm visibility across private credit markets and access to a broad network of managers, which he believes provides a foundation for expanding its credit secondaries business.
HarbourVest had more than $165bn in assets under management as of 30 June 2026 and around 1,300 employees across the Americas, Asia, Europe and the Middle East.
