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HarbourVest NAV rises by 0.6 per cent

HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam, had an estimated net asset value of USD656.4m, or USD7.91 per share, as at 31 October 2009. 

This represents a 0.6 per cent increase from the 31 July 2009 unaudited NAV of USD652.0m, or USD7.86 per share.

Between August and October, 15 of HarbourVest’s underlying portfolio companies completed IPOs, including Avago Technologies, one of its 25 largest holdings.

The company will benefit from the sales of approximately 30 companies during the period, as well as additional announced acquisitions that have not yet closed.

Since the end of October and during November 2009, a further two of HarbourVest’s 25 largest holdings announced sale transactions, both for approximately four times cost: Datatel was sold to Hellman & Friedman and JMI Equity; and Birds Eye Foods was sold to Pinnacle Foods.

Based on the current value, the two sales are expected to result in an approximate USD0.03 increase in HarbourVest’s NAV per share and this will be reported in HarbourVest’s November 2009 NAV.

Also in November, HarbourVest benefited from the IPOs of Myer and, as well as the acquisition of Zappos by

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