[February 17, 2026]

HarbourVest Partners Closes Inaugural Private Equity Continuation Solutions (PECS) Fund at $1.1 Billion

HarbourVest Partners ("HarbourVest"), a global private markets investment firm with more than $146 billion in assets under management as of June 30, 2025, today announced the final close of its inaugural Private Equity Continuation Solutions (PECS) Fund, an investment vehicle focused on single asset continuation transactions that enable GPs to extend their ownership of high conviction portfolio companies.

The PECS Fund and related parallel vehicles closed with more than $1.1 billion in capital commitments, drawing strong support from a global group of institutional and private wealth investors. While the fund represents a new, purpose-built program focused on single asset private equity continuation solutions, HarbourVest brings more than a decade of experience investing in the space across its investment platform. HarbourVest currently manages other commingled funds and separately managed accounts that participate in PECS eligible transactions and committed approximately $2.8 billion to these opportunities last year.

The strategy is focused on single-asset continuation transactions for high-performing sponsor-backed companies primarily across North America and Europe. PECS is designed to provide highly customized, flexible and scaled solutions to general partners, helping them extend their ownership of trophy assets while providing liquidity options to existing investors.

"For over 40 years, HarbourVest has earned the trust of GPs by being a thoughtful, reliable, and aligned partner," said John Toomey, Chief Executive Officer of HarbourVest. "Continuation solutions are a natural extension of how we support sponsors and their investors: listening closely, understanding their objectives, and driving outcomes hat are aligned with their long-term liquidity and portfolio needs. The PECS program formalizes an approach we have applied for many years, delivering flexible solutions grounded in deep relationships and extensive experience serving the evolving needs of private markets."

"The single asset continuation solutions market continues to expand as general partners look to provide liquidity options to their limited partners while retaining exposure to their strongest assets," added Valérie Handal, Managing Director. "We see a durable and attractive opportunity set for sponsors to partner with experienced, solutions-oriented investors who can structure transactions thoughtfully and at scale. We believe these transactions offer compelling risk-adjusted return opportunities that are complementary to existing private markets portfolios."

The PECS Fund builds on HarbourVest's established activity in single asset continuation transactions. To date, HarbourVest has committed more than $12 billion across over 120 continuation solution transactions, and maintains one of the largest, most experienced, and longest tenured teams in the continuation space. The PECS Fund sits within HarbourVest's broader global private markets platform, which manages approximately $146 billion in assets across private equity, private credit, real assets, and infrastructure, enabling the firm to support continuation transactions of varying levels of scale and complexity.

About HarbourVest Partners
HarbourVest is an independent, global private markets firm with over 43 years of experience and more than $146 billion of assets under management as of June 30, 2025. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,250 employees, including more than 235 investment professionals across Asia, Europe, and the Americas. Across our private markets platform, our team has committed more than $63 billion to newly formed funds, completed over $64 billion in secondary purchases, and invested over $47 billion in direct operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

Disclaimer
HarbourVest Partners, LLC is a registered investment adviser under the Investment Advisers Act of 1940. This material is solely for informational purposes and should not be viewed as a current or past recommendation or an offer to sell or the solicitation to buy securities or adopt any investment strategy. The opinions expressed herein represent the current, good faith views of the author(s) at the time of publication, are not definitive investment advice, and should not be relied upon as such. This material has been developed internally and/or obtained from sources believed to be reliable; however, HarbourVest does not guarantee the accuracy, adequacy or completeness of such information. There is no assurance that any events or projections will occur, and outcomes may be significantly different than the opinions shown here. This information, including any projections concerning financial market performance, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of HarbourVest.

Nothing herein should be construed as a solicitation, offer, recommendation, representation of suitability, legal advice, tax advice, or endorsement of any security or investment and should not be relied upon by you in evaluating the merits of investing in HarbourVest funds or in any other investment decision.

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