HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam and the Specialist Fund Market of the London Stock Exchange, has reported an increase in economic net asset value of 4.4 per cent over the six months ended 31 July 2010.
As at 31 July 2010, HarbourVest’s economic NAV was USD749.6m, or USD9.03 per share.
This represents an increase of USD0.38 per share over the financial period from 31 January 2010 (USD8.65).
This increase was driven primarily by HarbourVest US fund of funds, which increased by USD0.35 per share. USD0.18 per share resulted from HarbourVest international fund of funds, USD0.07 from HarbourVest direct funds, and USD0.04 from the global secondary fund.
Unrealised foreign currency losses reduced economic NAV by USD0.12 per share, and operating expenses reduced it by USD0.14 per share.
On 27 September 2010, the company committed USD50m to the HarbourVest Partners IX programme, a US-focused fund of funds. It allocated USD25m to HarbourVest IX Buyout, USD20m to HarbourVest IX Venture, and USD5m to HarbourVest IX Credit Opportunities.
