In this episode of Balentic Edge, Kasper is joined by Craig MacDonald, Partner at HarbourVest and portfolio manager for the firm’s evergreen private equity solutions. Together they unpack how one of the world’s most established private markets platforms is rethinking portfolio construction, secondaries, and liquidity in a world of “private for longer”. Craig shares candid views on backward diversification, NAV squeezing, valuation frameworks, evergreen carry structures, and how to manage semi-liquid products without losing alignment. We also touch on the globalisation of private markets, the return of exits, and what really keeps an evergreen PM up at night. If you’re an LP, GP, or allocator thinking about evergreen exposure, secondaries, or semi-liquid structures, this is a highly relevant listen that will help frame the right questions for your own program.