HarbourVest Partners
also referred to as: harbourvest
24 statements across 2 episodes · 13 bullish · 3 bearish · 1 people on the record · first statement Jun 21, 2021 by John Toomey · said 43 times in 6 episodes since 2021 · across every show →
Mentions by year
brought up most by Ted Seides (21), John Toomey (12), Nigel Dawn (3), Fran Kinniry (3), Rodney Comegys (2), John Barber (2)
tap a year for its mentions
2026 2 mentions in 1 episode
2025 2 mentions in 1 episode
2024 3 mentions in 1 episode
2022 2 mentions in 1 episode
Everything said about HarbourVest Partners, oldest first
Jun 21, 2021 neutral
Toomey: HarbourVest walked away from impaired co-investments in 2001 and 2009
“We certainly have had investments where we've had to make the tough call to walk away from, right? We had a different view than the lead sponsor. We generally follow the sponsor and those situations, but we are fiduciaries. And so if we think that the risk rew…”
Jun 21, 2021 positive
Toomey: HarbourVest data shows positive correlation between strong ESG programs and returns
“Our data suggests that's not the case. There's actually a positive correlation between managers with great ESG programs and the returns that they generate because they think about this, and it is good for the business, it is good for The underlying company's l…”
Jun 21, 2021
Toomey: HarbourVest commits to giving GPs a 24-hour co-investment response
“On the co-investment side, what we found they value the most is, frankly, a quick no is always better than an elongated no. And so we just have this commitment, you know, 24 hour period, we will get back to the manager with a quick read.”
Jun 21, 2021
Toomey: Careers follow a J-curve where mid-career contribution outpaces returns
“Oftentimes, there is a J-curve to it. And you get to a point in the middle of your career where you say, wait a minute, I'm contributing a lot. But I'm not actually receiving a lot in return, right? I mean, that's a common, you know, people get impatient, and …”
Jun 21, 2021 positive
In secondaries, high-quality assets at par generate higher returns than deep discounts
“Yes, there's a benefit that comes with buying an asset at a discount, but you get that discount once. And if you buy the right asset managed by the right manager, that manager and those assets can create gains year after year after year until they get realized…”
Jun 21, 2021 neutral
Private equity managers entering at 12x EBITDA underwrite exits at 10x
“What we see is managers who, when they're underwriting a company and going in at 12 times, they're not underwriting to exit at 15. Actually, they're underwriting to exit at 10, because the market does go through cycles, and all that does is to get to your unde…”
Jun 21, 2021 positive
Toomey: Co-investing in club deals reveals which PE sponsor truly leads
“In the club deals, you have the advantage point of, well, whoo, Who's actually doing the work? Who's actually just a financial investor? And who does management call when they have issues? Who does management defer to in the board meetings? And so that is inva…”
Jun 21, 2021 negative
Jun 21, 2021 positive
Jun 21, 2021 neutral
Jun 21, 2021 positive
Jun 21, 2021 positive
Toomey: Private equity access expanded beyond standard 10-year fund commitments
“So for the beginning of the industry until the last 10 years, if you really wanted to invest in private equity, your choices were generally a ten-year limited partnership. You would make an investment up front, and then the manager would invest and create liqu…”
Jun 21, 2021 negative
Generalist relationship managers inherently overvalue their own GPs' deals and secondaries
“The person who was on that point on the manager relationship, everything that that manager, this is the best set co-investment opportunity. We've got to buy this secondary at one Oh five because they're such a great manager. And so really from the beginning, W…”
Jun 21, 2021 bullish
Toomey: Private equity is the only asset class driving excess pension returns
“And if anything, it's the only place over the last decade where That has contributed the excess return when they're trying to meet their eight percent or seven and a half or seven percent total asset return. They're not getting returns in a lot of places, and …”
Jun 21, 2021 neutral
Jun 21, 2021 positive
Jun 21, 2021 bullish
Private equity capitalization could eventually reach 20% to 30% of public markets
“Tell me why it can't be 20% relative to the size of the Publix, or 30%. Because I think what has happened in the last couple of decades is almost a complete development, and you're seeing this on the credit side, of a completely independent private capital mar…”
Jun 21, 2021 negative
Pitching an investment as 'good risk-reward' is a euphemism for below-bar returns
“It is shrouded in what I described as this is a great risk-reward opportunity, because you, of course, have to evaluate the risk as well. But when I hear that, I actually believe that's a euphemism for this is a below the bar return.”
Jun 21, 2021 positive
Numerical investment committee ratings filter out lukewarm deals better than binary voting
“What we heard from TA was they adopted a numerical rating, one through five, and you had to have a collective number across The total voting members. And the reason why is, what they were trying to do was control for what I'd call the, I'm willing to go along …”
Jun 21, 2021 positive
Toomey: International PE markets develop faster and differently than the US
“I think it would be a misconception to think that a market outside of the U.S. Is just X years behind the U.S. Or Y years. I mean, these are developing in their own ways. They're developing in a much faster pace than the U.S. Private equity markets have.”
Jun 21, 2021
Jun 21, 2021 positive
Toomey: HarbourVest first backed Insight Partners via secondaries in 2003
“We've actually sourced primary relationships first through the secondary business, because we got to know somebody and said, wow, this person said X, they delivered X plus 10%, and as a result, Insight Ventures is a perfect example. 2003, our first investment …”
Apr 17, 2023 positive
Toomey: Venture and Asia require more diversification than North American buyout
“You probably should have more diversification in venture in Asia than you do in the North American buyout market because the dispersion of returns that our QIS team has shown over the 40 years of data that we have says you do want to grab some of that right ha…”