HarbourVest invests in three CIP-managed funds focused on transportation infrastructure
NEW YORK -Friday 22 March 2019 [ AETOS Wire ]
(BUSINESS WIRE)-- Corsair Infrastructure Partners (“CIP”), the global infrastructure investment business of Corsair Capital (“Corsair”), today announced that HarbourVest Partners (“HarbourVest”), a leading institutional investor active across multiple asset classes and geographies, has invested in three new CIP-managed funds established to deploy capital in the aviation, port, and road sectors.
Earlier this year, CIP’s new funds closed on the acquisitions of shareholdings in three platform companies – the airport developer Vantage Airport Group, the Australian stevedore DP World Australia, and the Spanish toll-road operator Itínere Infraestructuras – from various selling shareholders including Gateway Infrastructure Investments, a legacy CIP-managed vehicle. The investments from HarbourVest come from a long-term pool of institutional capital dedicated to supporting infrastructure equity sponsors like CIP, and will play an important role in the execution of CIP’s growth strategies for all three platforms.
Hari R. Rajan, Managing Director of Corsair and Head of CIP said, “We are excited to welcome HarbourVest as a leading investor in our new funds. HarbourVest has a strong reputation and demonstrated track record working with general partners in the infrastructure space, and we look forward to a long and productive relationship.”
Kevin Warn-Schindel, Managing Director at HarbourVest said, “We are excited to partner with Corsair on this investment as we believe the portfolio of high-quality infrastructure assets managed by Corsair’s team of seasoned investment professionals represents an attractive investment for HarbourVest’s infrastructure strategy. We look forward to working with Corsair and the management teams to continue growing each of the platform investments over a long-term horizon.”
About Corsair Capital and Corsair Infrastructure Partners
Founded in 1992, Corsair Capital is a leading global specialist investor. Corsair has a highly regarded private equity platform that has invested in substantially all of the subsectors of the financial services industry including wealth & asset management, payments & financial technology, services, insurance and banking & specialty finance. Since inception, the firm has led or co-led $8 billion of private equity investments. The firm also has a global infrastructure equity sponsorship and investment management business, Corsair Infrastructure Partners, which was established in 2015 and manages a $2.9 billion infrastructure fund. More information on Corsair Infrastructure Partners can be found at www.corsair-infrastructure.com.
About HarbourVest Partners
HarbourVest is an independent, global private markets investment specialist with 36 years of experience and more than $58 billion in assets under management, as of December 31, 2018. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 500 employees, including more than 100 investment professionals across Asia, Europe, and the Americas. This global team has committed more than $35 billion to newly-formed funds, completed over $19 billion in secondary purchases, and invested over $9 billion directly in operating companies. Partnering with HarbourVest, clients have access to customized solutions, longstanding relationships, actionable insights, and proven results.
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