PRINT THIS PAGE US firm Harvest Partners defies fundraising doldrums09/07/2002. Source: AltAssets. 
 Harvest Partners, the New York-based private equity firm, has overcome a difficult fundraising climate and made a successful final closing of its Harvest Partners IV fund at $558m, comfortably exceeding its original $500m target.
The announcement challenges the mood of gloom that has been hanging over the US private equity fundraising arena in recent months.
The firm secured commitments from a number of high-profile investors, including US and multinational financial institutions, insurance companies, and public and private pension funds.
‘The quality and diversity of prominent investors in our new fund reflects the strength of our investment philosophy and our ability to recognise value and generate attractive investment gains for our limited partners,' said Harvey Wertheim, co-founder of the firm.
The fund will invest in management buy-outs and growth financings of mid-market companies, both on a domestic and multinational basis.
It made its first investment in April 2002, leading the acquisition of Associated Materials, a manufacturer and supplier of vinyl windows, siding and other exterior building products.
Founded in 1981, Harvest Partners has around $1bn of capital under management. It secured $362m for its previous fund back in March 1998.
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