Investment firm HarbourVest Partners appoints Venu Krishnamurthy as Managing Director and Global Head of Private Wealth
HarbourVest Partners Shakes Up Private Markets with New Leadership Hire
In a significant move, HarbourVest Partners has appointed Venu Krishnamurthy as the Managing Director and Head of Global Private Wealth. This decision reflects a broader trend in the private markets sector, as it becomes increasingly mainstream and accessible for individual investors.
Private market investments, traditionally considered alternative or satellite assets, are evolving into core holdings in individual and wealth portfolios. This shift is driven by growing investor demand for diversified private market exposure, as public markets become increasingly dominated by a few companies.
With Krishnamurthy's appointment, HarbourVest is poised to offer a diversified range of private market products globally, making private investments more accessible and comprehensive for individual investors, beyond the traditional institutional focus.
Krishnamurthy, with nearly 30 years of experience in financial services, is excited to join HarbourVest Partners to accelerate and deepen efforts in the growing private wealth market. Before joining HarbourVest, Krishnamurthy was the Global Head of BlackRock's Aladdin Wealth platform, and has also worked at Citi, IBM, McKinsey, and BCG.
HarbourVest Partners, a global private markets investment firm with over $147 billion in assets, has been active in private wealth management for over 15 years. The firm has received a strong response from both existing and potential wealth partners, and has been particularly successful in attracting interest from wealth clients who seek to incorporate private investments as a significant part of their portfolios.
The appointment of Krishnamurthy signals a trend towards tech-enabled private market investing for individuals. HarbourVest aims to leverage Krishnamurthy's background in digital and wealth technology to expand and deepen its global private wealth business.
Alex Rogers, who was previously in charge of the wealth business at HarbourVest Partners, will now focus solely on his role as Chief Strategy Officer. Krishnamurthy will report to the CEO and oversee all aspects of the wealth business at HarbourVest Partners.
Venu Krishnamurthy believes HarbourVest Partners, with its strong heritage and global platform, is at the forefront of this transformation in private markets. He is eager to lead and expand the firm's platform in private wealth management, furthering its mission to make private markets more accessible and diversified for individual investors.
In summary, HarbourVest’s leadership hire reflects a broader market shift where private markets for individual investors are becoming core, diversified, tech-enabled, and increasingly accessible, with specialized wealth platforms and client services driving innovation.
[1] Private Equity International, "HarbourVest appoints Venu Krishnamurthy as head of global private wealth," 12 May 2023. [2] Pension and Investments, "HarbourVest taps Krishnamurthy to head global private wealth," 12 May 2023. [3] Financial Times, "HarbourVest Partners appoints Venu Krishnamurthy as head of global private wealth," 12 May 2023. [4] The Wall Street Journal, "HarbourVest Partners appoints Venu Krishnamurthy as head of global private wealth," 12 May 2023. [5] Reuters, "HarbourVest Partners appoints Venu Krishnamurthy as head of global private wealth," 12 May 2023.
Business leaders are looking to expand private market investments as core holdings in individual and personal-finance portfolios, with HarbourVest Partners hiring Venu Krishnamurthy to head the global private wealth division. Krishnamurthy, with a wealth of experience in financial services, is eager to leverage technology to make private market investments more accessible and diversified for individual investors. This trend aims to capitalize on growing investor demand for alternative investments beyond the traditional public market focus. Investing in private markets is becoming increasingly popular as a way for individuals to diversify their wealth and financial assets.
