HarbourVest Global Private Equity had an estimated economic net asset value of USD727m or USD8.76 per share at 31 July 2010.
This represents a 2.5 per cent increase from the 30 June 2010 estimated economic NAV per share of USD8.55.
This change resulted from positive foreign currency movement, increases in the values of publicly-held securities, and a valuation increase related to the May 2010 acquisition of Shenzhen Development Bank by Ping An Insurance Group.
HarbourVest’s direct fund and fund of funds holdings continue to reflect predominantly 31 March 2010 valuations.
HarbourVest funded or accrued USD9.4m of capital calls in July and did not receive any distributions, resulting in net negative cash flow of USD9.4m.
The company’s unaudited semi-annual results, including economic NAV changes and financial statements for the six months ending 31 July 2010, will be published in September.
At 12 August 2010, there were 1,569,234 put rights remaining to be issued under HarbourVest’s liquidity plan.