The plummeting markets may be wreaking havoc across the finance industry but there’s at least one firm celebrating the latest market crash – US fund of funds HarbourVest Partners, which has said the bout of volatility gave further weight to its plan to buy out a Swiss private equity manager.

John Toomey, a managing director at fund of funds HarbourVest, said he was "certain" the falling equities markets helped sway shareholders in Absolute Private Equity to accept HarbourVest's $18.50 a share offer for the firm.