Harvest Partners Reaps $5.3B for 9th Mid-Market Fund

Harvest Partners, a New York-based private equity firm focused on the middle market, completed fundraising for its ninth fund, Harvest Partners IX, L.P., and its parallel funds at $5.34 billion, surpassing its target of $5.25 billion.

HP IX is 30% larger than the firm’s previous private equity fund, which raised $4.1 billion of commitments in 2019 and has been fully deployed.

The firm’s flagship private equity strategy focuses on businesses with enterprise values between $300 million to $5 billion in five target sectors – business & industrial services, consumer, industrials, healthcare and software.

HP IX was backed by more than 90 investors, primarily institutional, and well diversified across pension funds, sovereign wealth funds, insurance companies, asset managers and family offices, the firm said.

“I am immensely proud of the Firm, the depth of our team and the outcome of the HP IX capital raise,” said Michael DeFlorio, Harvest CEO. “We view the strong investor response to HP IX, our largest fund to-date, as recognition of the success of our strategy.

Davis Polk & Wardwell LLP served as legal counsel for HP IX.