Insight Partners Announces Closing of Continuation Fund III with HarbourVest Partners as Lead Investor
– Insight Partners announced the successful closing of Continuation Fund III with HarbourVest Partners leading a group of limited partners (LPs) investing.
– The fund closed with total commitments of approximately $1.5 billion.
– Continuation Fund III was established to acquire stakes in notable software companies across multiple Insight funds.
– The fund provides liquidity options for existing LPs and enables further growth for portfolio companies.
– Insight’s Liquidity Committee designed and executed the fund in partnership with HarbourVest, prioritizing returns and optionality for LPs.
– The fund allows LPs to either take liquidity and lock in returns or continue their exposure to assets.
– Ian Sandler, COO at Insight Partners, highlighted the flexibility the fund offers to LPs in a liquidity-constrained private equity environment.
– HarbourVest views this transaction as one of their largest GP-led deals and aligns with their strategy of partnering with top-performing managers on market-leading assets.
– Abuzar Anaswala, Principal at HarbourVest stated: “HarbourVest is excited to again be a lead partner with Insight Partners and further our 20+ year relationship, providing a scaled and bespoke secondary solution.”
– Evercore acted as financial adviser and Willkie Farr & Gallagher LLP served as legal counsel to Insight Partners.