Investment firm HarbourVest Partners appoints Venu Krishnamurthy as their new Managing Director and Global Head of Private Wealth.
HarbourVest Partners Accelerates Private Wealth Management
HarbourVest Partners, a global private markets investment firm with over $147 billion in assets, is experiencing a surge in interest in its wealth market offerings. The shift of private markets from being viewed as "alternative" investments to becoming core holdings has significantly influenced this trend.
The appointment of Venu Krishnamurthy, former Head of BlackRock’s Aladdin Wealth platform, as Managing Director and Head of Global Private Wealth at HarbourVest Partners reflects the firm's strategic emphasis to accelerate private wealth channels and customize offerings geared towards making private markets accessible and core within wealth portfolios.
Krishnamurthy, with nearly 30 years of experience in financial services, will lead and expand the firm's platform in private wealth management. He will report to the CEO, John M. Toomey Jr., and oversee all aspects of the wealth business at HarbourVest Partners.
Wealth and institutional clients are seeking broader, diversified private markets exposure to reduce concentration risk in public markets. HarbourVest’s global platform with access to primary funds, secondary transactions, direct co-investments, and private credit enables it to serve this demand effectively by delivering diversified, multi-strategy private market allocations.
The evolution of private markets into core holdings demands rigorous portfolio construction, ongoing monitoring, and disciplined due diligence. This shift reinforces HarbourVest’s focus on resilience and sector-aware investing, especially in service-oriented sectors less exposed to trade disruptions.
HarbourVest is actively involved in efforts to expand private markets access within U.S. retirement plans, reflecting the maturation of private markets as a core asset class suited for long-term wealth accumulation and retirement outcomes.
The firm is recognized for its strong heritage and global platform. Krishnamurthy, who holds a bachelor’s degree from the National Institute of Technology, Surathkal, and an MBA from IIM Ahmedabad, is excited to join HarbourVest Partners at the forefront of private markets transformation.
Alex Rogers, who was previously the Head of Global Private Wealth at HarbourVest Partners, will now focus solely on his role as Chief Strategy Officer. The firm has received a strong response from both existing and potential wealth partners, indicating a positive outlook for its private wealth business.
In conclusion, HarbourVest Partners is scaling its private wealth business, innovating product offerings, and deepening client relationships to support private markets as fundamental components of global private wealth management. The increased interest in private investments as core holdings is a testament to the firm's commitment to delivering long-term value to its clients.
Investing in private markets has become a core focus for personal-finance strategies, as HarbourVest Partners' wealth market offerings are increasingly in demand. Venu Krishnamurthy, the new Managing Director and Head of Global Private Wealth at HarbourVest Partners, will personal-finance clients' access to diversified, multi-strategy private market allocations, reflecting the firm's emphasis on making private markets a core component of wealth portfolios.
