#5: John Toomey – Private Equity Masters Ep.01, HarborVest Partners, EP.200 

Global Dynamics

The landscape of private equity investing outside the US is rapidly evolving, with markets developing at their own pace. John Toomey highlights the misconception that international markets are merely trailing behind the US, noting that regions like Asia are growing swiftly with unique dynamics 1. He explains that while developed markets in North Asia and Australia focus on buyouts, China dominates the venture side due to its massive market size and growth potential 2.

The private markets, like all financial markets, are influenced by the rule of law and the maturity of financial markets.

--- John Toomey

Toomey emphasizes the importance of having dedicated teams on the ground to navigate these diverse opportunities effectively 1.

   

Expansion Strategy

HarbourVest's international expansion strategy reflects the complexities of operating in a globalized world. John Toomey discusses the challenges of globalization, such as regulatory changes and the need for face-to-face client interactions, which have been highlighted by the COVID-19 pandemic 3. He notes that the secondary market has evolved significantly, offering new opportunities for portfolio management beyond traditional sales or IPOs 4.

The secondary market has shown a remarkable ability to have just another gear in terms of investable opportunities.

--- John Toomey

Toomey underscores the importance of scale and breadth in navigating these challenges and capitalizing on emerging opportunities 3.