A Berkeley Square address has long been one of the most desired status symbols among London's private equity community. But practicalities are causing one of its tenants, HarbourVest Partners, to move away.

The fund of funds is set to depart in the summer after signing a lease for a new office space in London's Jermyn Street. It began looking for a new home for its London operations nine months ago as it was outgrowing its current office in Berkeley Square House, according to George Anson, managing director of HarbourVest.