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HarbourVest Global Private Equity (HVPE)

Business description

HarbourVest Global Private Equity Limited (HVPE) is a Guernsey closed ended investment company that aims to provide long-term capital appreciation through a private equity portfolio well diversified by vintage year, geography, industry and strategy.

Continuing to invest

Update | Investment Companies | 09/07/2012

HarbourVest Global Private Equity (HVPE) has joined with other HarbourVest funds to acquire Conversus Capital’s (CCAP) portfolio of private equity fund-of-funds for $1.4bn. The assets are being acquired at a 14% discount to its adjusted NAV, only in line with the average global secondary transaction during H211 despite the mature cash generative nature of the portfolio. The secondary market continues to trade at a significant premium to the listed market, which is currently trading on a 36% discount. We believe one factor behind this large discount is LPE’s lack of share trading liquidity, hindering shareholders from selling and discouraging new investment. The consolidation of this sector allows investors that wish to invest, like HVPE, to do so at attractive prices while providing immediate liquidity to those that do not.

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Stock data

Market cap.US$1059m
Last closeUS$1326.000
High / Low (52 weeks)US$1446.0 / US$1178.0
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

Price performance

%1m3m12m
Actual(5)(2.2)7.4
Relative *(1.1)6.919.5

* % Relative to local index

Company news