HarbourVest Hires BlackRock Executive to Lead Wealth Business

HarbourVest Partners has hired an executive from BlackRock Inc. to boost its offerings for wealthy individuals, an area of increasing focus in the sector as some institutional investors pare their private equity holdings.

Venu Krishnamurthy joined the Boston-based HarbourVest, which manages more than $147 billion, as head of global private wealth. He had served as a top executive for BlackRock’s Aladdin technology system, where he oversaw the wealth management business.

HarbourVest aims to tap Krishnamurthy’s digital expertise to help broaden the reach of its products that target wealthy investors, Chief Executive Officer John Toomey said in an interview.

Private equity ...