HarbourVest Partners, a private markets investment firm, has hired Vinay Mendiratta from Adams Street Partners to deepen its relationship with wealth management clients.
Mendiratta, who joined HarbourVest as a managing partner in Boston, will focus on business development with distribution partners in the U.S., according to a statement Wednesday. He previously was head of wealth management sales at Adams Street Partners.
“Over the past decade, wealth management firms have sought greater exposure to private markets for their family office, private bank, wealth management, and institutional clients,” said John Toomey, managing director at HarbourVest, in the statement. “This is a critical part of our strategic vision for the firm and Vinay’s deep experience with this market segment will further strengthen our ability to serve this client base.”
At Adams Street, Mendiratta was responsible for the strategy and development of the firm’s wealth management business. He worked there for about two years, according to his LinkedIn profile.
Spokespeople for Adams Street and HarbourVest declined to comment.
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HarbourVest, which managed $58 billion of assets at the end of March, recently expanded its private credit team.
The firm said in September that it hired Karen Simeone from TCW Direct Lending to serve as a managing director in private credit. In August, HarbourVest announced that James Athanasoulas joined the group from Bain Capital’s credit unit.
HarbourVest, which has offices in Asia, Europe, and the Americas, provides its clients access to primary funds, the secondary market, and direct co-investments.