HarbourVest Global Private Equity, a closed-end investment company, had an estimated economic net asset value of USD774.3m or USD9.33 per share as at 30 November 2010.
This is a 0.2 per cent decrease from the 31 October 2010 estimated economic NAV per share.
While valuation changes to 31 October 2010 for underlying holdings resulted in a USD0.07 increase per share and a USD0.06 increase per share for public holdings, this gain was more than offset by negative foreign currency movement and ongoing operating expenses.
During November, HarbourVest was cash flow positive for the third consecutive month. It funded USD4.3m of capital calls to US and international fund of funds in November (compared to USD10.8m funded in October) and received distributions of USD15.0m (compared to the USD12.3m received in October), resulting in net positive cash flow of USD10.7m.
Liquidity events continued across HarbourVest’s underlying portfolio during November with 29 transactions. Seven underlying companies completed IPOs during the month, and 22 portfolio companies completed sale transactions.
