HarbourVest Global Private Solution SICAV – Secondaries Fund (HSEC Lux)
Managed by HarbourVest Partners
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HarbourVest Global Private Solution SICAV – Secondaries Fund (HSEC Lux)
Key Statistics
Fund Size
N/A
Target Return
16.5%
Annualized Return
N/A
Launch Year
2025
Min. Investment
€25,000
Availability
Open through selected distributors
Structure
SICAV Part II UCI (2010 Law)
Product Category
Open-end
Domicile
Luxembourg
GP Type
Multi
Liquidity Level
Semi-liquid
Management Fee
1.25%
Carry
12.5% incentive payment on net profit above a loss recovery account (no hurdle, no clawback), accrued monthly and paid quarterly
High Water Mark
Yes
ISIN
LU3184405572
Currencies
EUR, USD, GBP, CHF, JPY
Investor Eligibility
Professional/Institutional Investors
Liquidity Options
Monthly subscriptions
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
6 out of 7
Annual Returns (KID Scenarios)
Stressed
-3.94%
Moderate
10.99%
Favorable
16.46%
Average Total Cost Level (KID)
8.6%
Allocations
Investment Strategy
Industry Focus
Information about fund
HarbourVest Secondaries Fund (HSEC Lux) at a Glance
HSEC Lux is the second sub-fund of HarbourVest Global Private Solution SICAV S.A., a Luxembourg Part II SICAV supervised by the CSSF and anchored since 2023 by the Swedish pension fund AP7. Announced on 3 November 2025 as the HarbourVest Evergreen Secondaries Solution, it buys LP-led fund interests and GP-led continuation deals, sourced through HarbourVest's relationships with more than 600 general partners, and was seeded by a cornerstone investor so that it launched already diversified. It is not an ELTIF.
Key Terms (prospectus July 2025, KIDs 25 February 2026)
Minimum
$2M
Classes A-1, AX-1, I-1, IX-1; €25,000 A-1-Italy; NL non-professionals from €100,000
Management Fee
1.25%
Classes A-1, A-1-Italy, AX-1, I-1; IX-1 1.20%
Service Fee
0.85%
Class A-1 only
Incentive Payment
12.5%
Of net profit above a loss-recovery account; no hurdle, no clawback
KID Cost Impact
8.6%
Class A-1 EUR per year; AX-1 7.7%; first-year estimates incl. look-through
Risk Indicator
6 / 7
Moderate scenario 11.0% p.a. after costs over 5 years
Terms & Liquidity
| Structure | Luxembourg Part II SICAV sub-fund (RCS B272336); AIFM HarbourVest Partners (Ireland) Limited; portfolio manager HarbourVest Partners L.P.; depositary BNY Mellon Luxembourg; SFDR Article 6 |
| Strategy | Global private equity secondaries: LP-led portfolio purchases, GP-led continuation vehicles, structured liquidity and team spin-outs, plus selected primaries; buyout core, borrowing up to 30% of NAV |
| Deal flow | Shared with the Dover Street flagship funds, which are entitled to at least 70% of each secondary opportunity |
| Subscriptions | Monthly; dealing deadline five business days before the valuation date; NAV published around the 20th business day of the following month |
| Redemptions | Quarterly with 20 business days' notice; settled within ten business days of NAV publication; capped at 5% of NAV per quarter |
| Early redemption | 5% fee on shares held under 12 months; Class IX-1 locked for three years; seed Class S locked for five |
| Distribution | Registered in LU, BE, DK, FI, FR, DE (professional/semi-professional), IT, LI, MC, NO, ES, SE, CH, NL and the UK; not for US persons |
| ISIN | LU3184405572 (A-1 EUR); LU3184405812 (A-1 USD); LU3184406034 (AX-1 EUR) |
Private Wealth Leadership
John M. Toomey Jr.
Chief Executive Officer
Venu Krishnamurthy
Managing Director, Head of Global Private Wealth
Monique Austin
Managing Director, Head of Evergreen Solutions
Ivan Pascual
Managing Director, Head of EMEA Wealth
Points to weigh: the KID's all-in cost of 7.7–8.6% a year is high compared with closed-end secondaries funds; the incentive payment carries no hurdle and no clawback; liquidity is gated at 5% of NAV per quarter and can be suspended; and the fund has operated only since November 2025 with no published NAV, fund size or performance record yet.
Deepdive & Related Funds
Amundi Private Markets ELTIF
Amundi Private Markets ELTIF (“Amundi Prima”) is an evergreen Luxembourg ELTIF launched in November 2024 by Europe’s largest asset manager, run by Amundi Alpha Associates. It allocates flexibly across private equity, private debt and infrastructure in Europe’s real economy (energy transition, digital, social and territorial projects). €1,000 minimum, monthly subscriptions, quarterly redemptions capped at 5% of NAV, SFDR Article 8, KID risk 5/7. Fund size and returns are not yet published.
Apollo Global Private Markets ELTIF
Apollo Global Private Markets ELTIF (AGPM) is a perpetual, semi-liquid ELTIF 2.0 sub-fund of the Luxembourg-domiciled Apollo Private Markets SICAV. AGPM focuses on long-term capital growth by investing in the equity of established private companies globally, via secondaries and co-investments sourced across the Apollo platform, with quarterly redemption windows for investors.
Other HarbourVest Partners Funds
BlackRock Private Equity Fund (BPE)
The BlackRock Private Equity Fund (BPE) is an evergreen ELTIF managed by BlackRock Private Equity Partners, giving European wealth investors a global private equity portfolio of direct co-investments alongside third-party sponsors plus secondaries, focused on buyout and growth deals. The fund offers monthly subscriptions from EUR 10,000, and quarterly redemptions are limited to 5% of NAV.
Bridgepoint Generations
Bridgepoint Generations is Bridgepoint’s first private-wealth product: a Luxembourg open-ended evergreen fund launched in 2025 with platform S64, giving direct exposure to middle-market private equity alongside Bridgepoint’s funds and to infrastructure alongside ECP, plus co-investments and secondaries. Fully funded at launch and expected to hold 80–100 companies when fully invested; size, fees and redemption terms are not published.
CollerEquity
CollerEquity is a flagship private equity secondaries fund developed by Coller Capital, specifically tailored for private wealth investors. This fund offers eligible professional and qualified non-U.S. investors the opportunity to participate in the private equity secondary market, which involves acquiring existing stakes in private equity funds from current investors. By focusing on this market, CollerEquity provides investors with access to a diversified portfolio of private equity assets, potentially enhancing their investment returns. The fund is available to investors in various regions, including those residing in Singapore, Hong Kong, Australia, and New Zealand.
CVC-PE Global Private Equity
CVC-PE is CVC’s evergreen private equity vehicle for private investors: a Luxembourg SICAV launched in January 2025 that invests directly in companies alongside CVC’s buyout funds, mainly in Europe and North America. It reached €1.7 billion of aggregate value by June 2026 with more than 20% annualised performance since inception. Quarterly gated redemptions, €100,000 minimum via selected distributors; fee levels are not fully public.
EQT Nexus (ENXF)
EQT Nexus is EQT’s evergreen semi-liquid private markets fund. It is a Luxembourg-domiciled UCI (SICAV – UCI Part II). The fund’s Master Fund invests in EQT’s current and future private equity and value-add infrastructure funds as well as co-investments. The fund is currently sized at EUR 1.58bn (Jul 2026) and has a minimum subscription price of EUR 25,000 for share class A EUR-Z. Subscriptions can be made on a monthly basis and redemptions on a quarterly basis. Net redemptions are capped at 5% of the fund’s NAV on a quarterly basis.
Franklin Lexington PE Secondaries Fund (FLEX-I)
The Luxembourg-domiciled evergreen private equity secondaries fund FLEX-I is co-advised by Franklin Templeton and Lexington Partners, one of the pioneers of the secondary market. The fund buys diversified portfolios of LP interests, GP-led deals and co-investments, offers monthly subscriptions from $25,000 and has quarterly redemptions at up to 5% of NAV. As of July 2026, NAV was $2.31 billion.
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