HarbourVest Partners is broadening its alternative investments with the hire of Randy Parker, formerly with real estate fund of funds Composition Capital Partners. At HarbourVest, he will focus on investments in private equity real estate funds and related opportunities.
The Boston-based fund of funds manager previously only focussed on venture, buyout, mezzanine debt and distressed debt investments.
Kevin Delbridge, a senior managing director at HarbourVest, said in a statement that the move into real estate is a continuation of the firm’s development and represents “an opportunity to apply our team’s skills and expertise to a growing asset class”.
Prior to his tenure at Netherlands-based Composition Capital, Parker was a senior managing director and investment committee member at Boston-based Beacon Capital Partners, responsible for capital formation, investor relations and investment strategy. Before Beacon, he spent eight years at AEW Capital Management.