Imperial County Approves HarbourVest $10M Allocation, Contract Extensions

The Imperial County Employees Retirement System has approved the extension of three HarbourVest Partners fund contracts and a new $10M allocation to its Global Fund 2025.

As reported by Dakota on December 10, 2024, the private equity manager was seeking a one-year extension through December of 2025 for HarbourVest Partners IX-Credit fund, and two-year extensions through December of next year for both HarbourVest Partners IX-Buyout and HarbourVest Partners IX-Venture. General consultant Verus recommended the extensions, as well as the $10M investment to the 2025 vintage buyout fund. Both recommendations were approved by unanimous vote during the pension’s November 20 meeting, per recently released minutes.

Imperial County has previously committed to HarbourVest’s global fund series in 2017, 2018, 2019, and 2023. Per Dakota data, the California-based retirement system holds a total fund portfolio of $1.1B.