HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam by NYSE Euronext, says its estimated net asset value is USD638.8m or USD7.70 per share as
HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam by NYSE Euronext, says its estimated net asset value is USD638.8m or USD7.70 per share as of 30 April 2009.
This represents a 1.3 per cent increase from the 31 March 2009 estimated NAV per share of USD7.60.
It says this change resulted primarily from increases in the values of publicly-traded holdings to 30 April (approximately USD0.06 per share), valuation increases for privately-held companies relative to the 31 December provisional estimate (USD0.04 per share), and also from favourable foreign currency movement related to non US-dollar denominated holdings (USD0.02 per share). These were partially offset by ongoing operating expenses (USD0.02 per share).
The value of the HVPE portfolio reflects actual 31 December results for 100 per cent of HVPE’s fund-of-fund and direct fund investments.
During April, HVPE did not make any new commitments or purchase additional interests in HarbourVest-managed funds. HarbourVest funds in the portfolio made three new primary US venture commitments, a secondary investment focused on venture debt, and a direct buyout investment. To date in 2009, HVPE’s actively-investing US venture fund-of-funds has made eight new primary commitments.
HVPE is 108 per cent invested. Its US investments have increased to 66 per cent of the portfolio, and European investments have decreased to 26 per cent. HVPE’s venture assets account for 42 per cent of the portfolio.
