Imperial County Considers HarbourVest $10M Allocation, Contract Extension

The Imperial County Employees Retirement System (ERS) will potentially extend three HarbourVest funds contracts and is considering a $10M allocation to the private equity manager’s 2025 buyout fund.

In recently published materials from the pension’s November 20 meeting, general consultant Verus recommended the contract extensions of HarbourVest Partners IX-Credit, which seeks a one-year extension through December next year, as well as HarbourVest Partners IX-Buyout and HarbourVest Partners IX-Venture, which both seek two-year extensions through December 2026. A $10M allocation to HarbourVest’s upcoming Global Fund 2025 was also recommended in what would be the California county pension’s latest follow-on investment to the fund series, having previously committed to its 2017, 2018, 2019, and 2023 vintages.

Verus said the contract extensions will “allow Harbourvest more optionality to optimize the remaining liquidations” in Imperial County’s portfolios, and are “consistent with the broader trends of mature private equity funds.”

Written By: Dakota

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