HarbourVest Buys $2 Billion Buyout Portfolio From State Pension

HarbourVest Partners bought a $2 billion portfolio of private fund stakes from one of the biggest public pensions in the US, underscoring the staying power of a boom in secondaries.

The Florida State Board of Administration sold a portfolio largely containing private equity, including funds from Charlesbank Capital Partners, Hellman & Friedman and Silver Lake Management, according to people familiar with the matter.

It also included stakes in funds from Global Infrastructure Partners, now part of BlackRock Inc., the people said, asking not to be identified because the transaction was not public.

Representatives for HarbourVest and ...