Alternative fund of funds manager HarbourVest Partners has announced the appointment of Randy Parker as a principal who will focus on investments in real estate private equity funds and re
Alternative fund of funds manager HarbourVest Partners has announced the appointment of Randy Parker as a principal who will focus on investments in real estate private equity funds and related opportunities.
HarbourVest, which has managed private equity investments for more than 25 years, is expanding its investment scope to include real estate fund investments. The firm argues that investing in real estate funds is a natural extension of the firm’s broad global platform, which includes venture, buyout, mezzanine debt, and distressed debt, accessed through primary partnerships, secondary purchases, and direct investments.
The firm plans to draw on its experience evaluating and selecting fund managers and its established investment process to select real estate partnership investments. The broader focus within the alternative investment arena is consistent with the firm’s strategy of using its investment expertise and long-term relationships to provide a high-quality product offering for institutional investors.
‘Real estate investing is a continuation of HarbourVest’s development and reinforces our role as a leader in the industry,’ says senior managing director Kevin Delbridge. ‘Throughout our history, we have continued to evolve – identifying and evaluating new opportunities around the world, gaining invaluable expertise, and developing a strong network of sought-after partners along the way.
‘Real estate is an opportunity to apply our team’s skills and expertise to a growing asset class and provide our clients with solutions to their investment needs in an increasingly complex and global environment.’
Parker’s experience in real estate investment management includes capital formation, portfolio management, asset management and investment origination. Most recently he was managing director of Composition Capital Partners, a global fund of real estate funds firm based in the Netherlands.
He was previously a senior managing director at Beacon Capital Partners, a Boston-based real estate investment firm. Over 10 years at Beacon and its predecessor public company, Parker was responsible for capital formation and investor relations as well as investment strategy as chairman of the investment committee. Earlier he spent eight years at AEW Capital Management with responsibilities including portfolio management for institutional clients.
‘We are pleased to welcome Randy to the team,’ says Ed Kane, a senior managing director at HarbourVest and a founder of the firm. ‘He brings more than 20 years of experience in real estate investment management to HarbourVest and will be a tremendous addition to our talented, experienced and cohesive team.’
HarbourVest provides investment programmes for institutions in venture capital, buyout, mezzanine debt, distressed debt and real estate through primary partnerships, secondary purchases and direct investments. HarbourVest and its subsidiaries have 193 employees, including 70 investment professionals deployed in Boston, London, and Hong Kong.
In more than 25 years of investing in private equity, the team has committed more than USD19.8bn to newly-formed funds from 200 private equity managers, completed secondary purchases totalling more than USD5bn in and invested USD3.1bn directly in operating companies. The firm’s 250 institutional investor clients include pension funds, endowments, foundations, and financial institutions in the US, Canada, Europe, Australia, and Japan.
