Vanguard will provide qualified individual investors with access to private equity investments this summer in an expansion of a relationship it began last year with HarbourVest Partners to serve institutional advised clients.
Boston-based HarbourVest is a private equity fund of funds and one of the largest private equity investment managers globally.
The expanded private equity investments initially will be available to eligible non-advised Vanguard clients and is expected to be made available to eligible advised clients of Vanguard Personal Advisor Services in the near future, the company said in a release. Eligibility requirements include certification as a qualified purchaser and an accredited investor.
“Private equity has the potential to improve long-term investment outcomes of a broadly diversified portfolio,” Tim Buckley, Vanguard’s CEO, said in the release. “Over time we will expand access to this asset class, which has traditionally been reserved for the wealthiest investors, to the many qualified investors at Vanguard.”
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