Debevoise & Plimpton LLP advised HarbourVest Partners (“HarbourVest”), an independent, global private markets specialist, in the acquisition of the BAML Capital Access Funds group (“BAML CAF”), an experienced private equity fund-of-funds manager and adviser, from Bank of America.
BAML CAF has historically focused on emerging and diverse managers and has advised on approximately $1.9 billion in capital commitments since its inception in 2002. As part of HarbourVest, BAML CAF will continue to focus on these investment areas and will be renamed HarbourVest Horizon. In addition, BAML CAF’s six-person investment team will join HarbourVest.
HarbourVest Horizon manages and designs mandates to meet the individual and specific needs of sophisticated institutional investors, focusing on opportunities in emerging managers (first, second and third funds); diverse managers (led by women or minority general partners); the lower middle market, and underserved markets (funds investing in companies that have historically lacked access to capital).
HarbourVest is an independent, global private markets investment specialist with more than 30 years of experience and $37 billion in assets under management. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in co-mingled funds or separately managed accounts. HarbourVest has more than 300 employees, including 86 investment professionals, across Asia, Europe, and the Americas.
The Debevoise team was led by partners David J. Schwartz and Andrew M. Ahern and included partners William D. Regner and Peter F.G. Schuur, and associates Peter Clarke, Joshua C. Liederman, Xiao Luo, Bridgette Parks, Verity A. Van Tassel Richards and Aaron Christopher West.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.