Harneys has finalised the sale of its fiduciary business, Harneys Fiduciary, to private equity firm Hillhouse Investment.
The sale will enable Harneys to invest in the strategic direction of the law firm by pursuing growth in new jurisdictions, products, and services, with a focus on innovation and technology, the firm said.
The acquisition bolsters Harneys Fiduciary’s strategic growth plans across its global network with the support of Hillhouse’s expertise and resources.
The business will continue to be led by CEO Ross Munro and Chief Commercial Officer Pia Buchi.
William Peake, global managing partner at Harneys, said: “This transaction marks an exciting new chapter for Harneys law firm, 64 years after it was formed. In that time we have always remained at the forefront of innovation and we will continue to do so. A unique feature of the sale is the creation of the Harneys Accelerator Fund, which is funded by a proportion of the sale proceeds and will be the foundation of our dynamic ambitions.”
Ross Munro, CEO of Harneys Fiduciary, said partnering with Hillhouse presents an opportunity to take the business to the next level.
“As Harneys Fiduciary approaches its 50th anniversary, it is important to leverage our heritage as we move forward. We have built an enduring legacy with Harneys law firm, and we are united in our shared commitment toward putting our clients at the forefront of everything we do as we embark on this new chapter,” Munro added.
Hillhouse is focused on building and investing in high-quality companies across business services, healthcare, energy transition, industrials, and consumer sectors to achieve long-term sustainable growth.
Sean Carney, Head of Global Investment at Hillhouse, noted the investment in Harneys Fiduciary “underscores our confidence in their leadership team and their commitment to providing top-tier services to their global clientele.”
Hillhouse’s closing of the Harney’s transaction was completed following approval from The Committee on Foreign Investment in the United States (CFIUS), within the initial 45-day review period, alongside other applicable regulators.
