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HVPE estimated NAV up 0.8 per cent in September

At the end of September, HarbourVest Global Private Equity’s estimated net asset value was USD955m or USD11.55 per share, a 0.8 per cent increase from 31 August 2012.

This change mainly reflects increases in the value of publicly-traded holdings and positive foreign currency movement, which were partially offset by ongoing operating expenses.     
At 30 September 2012, HVPE is valuing the Absolute portfolio at USD24.66 per share (including dividends received since closing), which is a 33 per cent increase over the purchase price of USD18.50 per share. Absolute has been de-listed and is now 100 per cent privately held.            
During the month, HVPE invested USD3.3m in US fund of funds (compared to USD15.7m in August) and received USD17.1m in realisations from US and international fund of funds (compared to USD13.6m in August), resulting in net positive cash flows of USD13.8m.

HVPE is USD68.9 million cash flow positive for the financial year since 31 January. During September 2012, there were a total of 20 liquidity events across HVPE’s underlying portfolio, including 19 M&A transactions and the IPO of venture-backed Trulia.

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