The firm transferred the semiconductor business into its first continuation vehicle in a 2023 process led by Kline Hill Partners.
The firm will reportedly pay about $350 million for a 40% interest, implying an equity valuation of roughly $875 million for the Israeli camouflage technology manufacturer.
The deal would reportedly shift the vehicle's assets into a closed-end structure and trigger a delisting.
The CV would reportedly acquire ByteDance and Ant Group stakes at a roughly 30% discount to their combined $1.5 billion NAV.
Existing investors in the German robotics startup, including Sequoia and Lightspeed, participated alongside new backers.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
The $300 million secondary share sale was led by Wellington and T. Rowe Price and brought in new investors, including EQT, Goldman Sachs, and Sapphire Ventures.
The continuation fund will reportedly have its largest exposure to TikTok's parent, ByteDance, alongside Ant Group.
The transaction will reportedly value the India-based D2C lifestyle brand at up to $521 million, more than 3x its last reported mark.
Anchored by a stake in TikTok parent ByteDance, the multi-asset CV reportedly drew backing from Abu Dhabi's Lunate, among others.
