Capital Allocators – Inside the Institutional Investment Industry #5: John Toomey – Private Equity Masters Ep.01, HarborVest Partners, EP.200
Dec 27, 2021
John Toomey, a key player at HarbourVest Partners with over three decades in private equity, dives into the industry's evolution and growth opportunities. He discusses the significance of due diligence and data analytics, as well as emerging trends like ESG and D&I. John shares insights on the transformation of co-investment practices, emphasizing the importance of relationships in decision-making. He also explores the complexities of secondary market transactions and the challenges of aligning investment strategies globally, all while reflecting on his personal journey in the field.
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Career Shift to Finance and HarborVest
- John Toomey, initially a chemistry major, switched to finance after realizing its greater appeal compared to his atmospheric chemistry models.
- In 1997, he joined HarborVest, drawn by its unique market position and the opportunity to learn from industry pioneers.
HarborVest's Early Investment Offerings
- In 1997, HarborVest had a simpler investment approach, offering four products: US and non-US primary funds, secondaries, and direct co-investments.
- They catered exclusively to institutional investors like pension plans, endowments, and foundations.
Early Private Equity Landscape
- The private equity industry in the late 90s was less specialized, mainly categorized by venture or buyout with limited geographic and size distinctions.
- Large buyout funds were around $1 billion, and venture capital wasn't yet segmented into stages or specializations.