Thoughts on HarbourVest
Any thoughts on HarbourVest Partners? I'm going to be Interning as a PE analyst there next summer and wanted to see what my potential exit opps areThe website says they have 75bill AUM yet the top 10 PE funds list doesn't list HarbourVestAnything and everything helps!!
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I think their internships are SEO partner exclusive. Only 3 people were selected to interview. 1st round was average HR screen. 2nd round was with a MD and Associate very chill, behavioral why PE, why this firm, tell me about yourself, asked me to connect things on my resume to PE, and then have a deal ready.
Heard back 3 weeks later
Harbourvest is a FoF, co-invest fund not your typical primary PE investor (i.e., KKR, BX, etc.)
But it is a prestigious firm right ?
How did you accept an offer from them without knowing what they do?
I want to do IB then break into PE or HF, will this internship at HarbourVest (it’s a sophomore internship) put me on BBIB and EB radar ?
I know a guy who went from HarbourVest Soph to BB for junior IB.
Yes, as long as you can talk about the deals you worked on in an intelligent way.
As someone stated above - they’re a FoF or co-investor. They piggy back on the diligence done by pure-play PE and come into deals when additional equity is needed to close. It is certainly a good job with solid pay and WLB, but you will not get the experience nor exits of traditional PE.
When thinking about a career - it’s an awesome opportunity as pay remains above average for finance (not IB, PE, HF level), stress is minimal and hours are reasonable.
also, why are exits to direct PE not likely (it's the same analysis at the end of the day)
Thanks
It’s the same analysis… but you won’t be managing 3rd party workstreams or leading diligence calls w/ management as a co-investor which is half the job
OP is a sophomore, I think when he says "exit opps" he's also referring to placement for junior year summer. If thats correct, then this would be a great soph year internship
Agreed - fantastic sophomore internship.
I’m speaking about exits for HV analyst / associate programs
can you comment on typical hours at VP / Asso level and comp through the levels?
FYI I know Harbourvest Carry at MD level is significant (north of >$2m per annum)
Their carry structure is very favourable vs most PE funds (not just secondaries), that's why a lot of juniors would stay even though cash comp as associate is below market.
Could you elaborate more on their carry ?
VP and up gets carry allocation from all their funds, across primary, secondaries and direct, they have tons of funds and fundraise almost every year.
Top tier fund performance in their category and the funds are huge.
curious how much VP gets and how their carry works?
There's a good interview with them on Capital Allocators that's worth listening to if you want more background on them.
Do you think you can exit to them from an endowment fund or you need prior IB experience?
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