HarbourVest Global Private Equity’s estimated net asset value was USD635.9m or USD7.66 per share at 31 May 2009, a 0.5 per cent decrease from the 30 April 2009 estimated NAV per share o
HarbourVest Global Private Equity’s estimated net asset value was USD635.9m or USD7.66 per share at 31 May 2009, a 0.5 per cent decrease from the 30 April 2009 estimated NAV per share of USD7.70.
HarbourVest says this change resulted primarily from decreases for privately-held companies in HarbourVest direct funds and fund-of-funds that were re-valued from 31 December 2008 to 31 March 2009 (approximately USD0.18 per share) and ongoing operating expenses (USD0.02 per share).
These were partially offset by the increase in the value of publicly-traded holdings to 31 May (USD0.05 per share) and also by favourable foreign currency movement related to non US-dollar denominated holdings (USD0.11 per share)
During May, the company did not make any new commitments or purchase additional interests in HarbourVest-managed funds. HarbourVest funds in the portfolio made two new primary US venture commitments.
HVPE is 109 per cent invested. US investments remained at 66 per cent of the portfolio, and European investments remained at 26 per cent.
During May, HVPE funded USD6.0m of capital calls to US and non-US fund-of-funds and the global secondary fund and received distributions of USD0.7m from the global secondary fund.
Of the total unfunded commitments of USD667.9m, approximately USD479.1m has been committed by HarbourVest funds to underlying partnerships.
