Harvest Partners Closes Harvest Partners IX, L.P. With Over $5.3 Billion Of Commitments
Share This Article
Harvest's Ninth Fund Exceeds Target
NEW YORK, November 7, 2023-- Harvest Partners, LP ("Harvest"), a New York-based private equity firm, announced today that Harvest Partners IX, L.P. and its parallel funds ("HP IX") completed its fundraise at $5.34 billion of commitments, surpassing its target of $5.25 billion. HP IX is 30% larger than the firm's previous private equity fund, which raised $4.1 billion of commitments in 2019 and has been fully deployed.
Founded in 1981, Harvest has an over 40-year history of investing in North American companies in the middle market. Today, the firm's flagship Private Equity strategy focuses on businesses with enterprise values between $300 million to $5 billion in five target sectors – Business & Industrial Services, Consumer, Industrials, Healthcare and Software.
"I am immensely proud of the Firm, the depth of our team and the outcome of the HP IX capital raise," said Michael DeFlorio, Harvest CEO. "We view the strong investor response to HP IX, our largest fund to-date, as recognition of the success of our strategy. We are grateful to our returning investors for their continued support and the many new investors who joined us in HP IX."
HP IX has over 90 investors, primarily institutional and well diversified across pension funds, sovereign wealth funds, insurance companies, asset managers and family offices. Today, Harvest and its affiliates have over $20 billion of assets under management.
"Harvest has built a reputation as a leader in middle market investing over four decades and multiple market cycles," said Campbell MacColl, Partner and Head of Investor Relations at Harvest. "We believe we have an exceptionally experienced and cohesive team that is well-positioned to execute on attractive opportunities for HP IX."
Davis Polk & Wardwell LLP served as legal counsel for HP IX.
About Harvest Partners
Founded in 1981, Harvest Partners, LP is an established private equity firm with over 40 years of experience investing in middle-market companies and partnering with high-quality management teams to acquire and build growing businesses. For more information, please visit www.harvestpartners.com.
This announcement appears as a matter of record only. This does not constitute an offer to sell or a solicitation of an offer to purchase an interest in any current or future Harvest fund.