When Simon Jennings arrived in Zurich, the native Englishman almost felt at home. «The weather here is just like ours,» the newly appointed head of HarbourVest in Switzerland joked.

In the meantime, summer has arrived in Switzerland, and the busy season has begun for HarbourVest as well. Jennings is meeting with existing and new clients, has hired two employees, and signed a long-term lease for office space just a stone's throw from Paradeplatz.

Simon Jennings (Image: Courtesy)

Fifth Location in the EMEA Region

However, the American private equity investment manager is aiming for more. The Zurich office, which can accommodate around 15 people, underscores HarbourVest’s commitment: they are here to stay. By the end of the year, the team is set to expand by three more individuals in the first phase.

The Zurich office is HarbourVest's fifth location in the EMEA region and its fourteenth worldwide. Yet, the American financial service provider has been active in Switzerland for a long time. «We have been serving clients in Switzerland for nearly 40 years,» says Jennings.

Memories of Time at UBS

The office opening is particularly special for Jennings: From 1993 to 1998, Simon Jennings, who also speaks German, lived in Zurich and helped build UBS’s private equity division. «It’s wonderful to return here. Switzerland is my spiritual home,» he says.

With assets under management (AuM) of $127 billion, HarbourVest focuses on private markets. Through its fund solutions and separately managed accounts, the company targets both institutional and private investors.

Strengthening Position in the Swiss Market

Private markets are lucrative, and various Swiss players have established themselves in this field. Now, HarbourVest aims to carve out its own space and strengthen its position in the Swiss market.

«The prospects for the next two or three years are incredible. There are many opportunities,» Jennings says. He emphasizes that private markets are one of the most resilient and profitable asset classes, having proven its worth over the past 40 years, including during the financial crisis. What sets HarbourVest apart, according to Jennings, is their genuine history, scale, and expertise in direct co-investments, secondaries, and primary investments, while still being privately owned without external shareholders. «This allows us to be entirely focused on our investors,» he concludes.