HarbourVest hires first general counsel

Paula Drake

Paula Drake joined HarbourVest Partners last week as managing director and general counsel to oversee all aspects of the firm’s legal and compliance functions around the world. According to a spokesperson, the general counsel post is a new one at HarbourVest, and Drake reports to the firm’s executive management committee.

Boston-based HarbourVest is a private equity firm offering primary fund investments, secondary investments and direct co-investments in commingled funds or separately managed accounts. It has more than $40 billion in assets under management and employees in Asia, Europe and the Americas, according to the firm.

Drake most recently served as managing director, global chief compliance officer (CCO) and chief regulatory officer for Och-Ziff Capital Management Group, where she developed and led the overall compliance strategy for the firm’s global operations, according to HarbourVest. Her replacement as CCO at Och-Ziff is Robert Mendelson, who joined the firm as an executive managing director.

Before Och-Ziff, Drake was associate director, chief counsel and CCO for the SEC’s office of compliance, inspections and examinations. Earlier in her career, she served as general counsel and COO for Oechsle International Advisors.

‘As HarbourVest continues to grow and expand our solutions and investment capabilities, our primary focus remains on delivering high-quality service to our clients and partners, and this includes staying ahead of changing regulatory dynamics in the global private markets,’ HarbourVest managing director John Toomey says in a statement.

‘In an increasingly globalized investment world, varied and changing local regulations can cause complexities for businesses, especially in the alternative asset management industry,’ Drake says.