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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Harbourvest Global Private Equity Limited | HVPE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -30.00 | -1.23% | 2,410.00 | 16:29:57 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2,440.00 | 2,400.00 | 2,440.00 | 2,410.00 | 2,440.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 06/3/2025 15:03 by budd_foxx77 looks like HVPE is available to buy again with HL |
Posted at 17/2/2025 09:15 by sharesoc ShareSoc Webinar with HarbourVest Global Private Equity (HVPE) – March 18, 2025, at 6PM
Join us for an insightful session with Richard Hickman, Managing Director of HarbourVest Global Private Equity (HVPE), as he discusses HVPE's performance and future outlook. Register here: You can now view the recording of this webinar on the ShareSoc Youtube channel Watch here: |
Posted at 31/1/2025 05:43 by apple53 A continuation vote! That is a surprise. Has HVPE, long the laggard, gone zipping past the others on the outside? If it demands closure (July 2026), then how much of a loss on the portfolio to close it down? What are the alternatives to closure? |
Posted at 30/1/2025 08:06 by foetus in your brain Looks like a raft of sensible ideas to close the discount. Let's hope it succeeds, long term PE has been a great option and I don't want to see HVPE go. I just want a discount in the 10-15 range |
Posted at 13/1/2025 16:49 by budd_foxx77 HVPE shares are not currently available to buy via HL (same issue with HICL). Something related to new FCA guidance re IT costs/charges/Mifid 2 etc. I heard back from HVPE IR today they are liaising with HL to resolve it so hopefully will be available to buy again soon. |
Posted at 30/11/2024 09:31 by spangle93 Investment company activist Metage Capital has demanded HarbourVest Global Private Equity (HVPE) introduce quarterly tenders or wind-up the £3.4bn ($4.3bn) portfolio to rectify the chronically wide discount on its shares.In an open letter to shareholders, Metage chief investment officer Tom Sharp said the capital allocation policy announced by HVPE’s chair Ed Warner in February had clearly failed with the shares standing 45% below net asset value at the end of October. continues |
Posted at 29/11/2024 14:34 by the real stan Good point here. Personally I am loading up on HVPE as buying at current discount is better value than committing to a new fund at par. So why doesn't HVPE do the same? |
Posted at 03/11/2024 20:20 by steelbreeze The Investor Presentation on Tuesday 5 Nov is a good chance to grill them over their pathetic buyback policy. To me the key questions are:HVPE recently made a large new fund commitment. What return is anticipated on this investment? How can this be expected to outperform the instant and risk-free 72.4% NAV uplift that would be earned by using this cash instead to buy back more shares at 58p in the pound (a 42% discount)? HVPE presumably expects to outperform listed equities. By paying no dividend (whilst most equities do) it must therefore expect to become an ever-larger proportion of investors’ portfolios. But the current massive discount clearly shows that investors do not want to hold even the current NAV. Will the Board finally accept that shareholder interests would be best served by reversing this, i.e. for the fund to shrink substantially by making no new commitments and instead distributing 100% of cash receipts? |
Posted at 09/10/2024 15:09 by skyship MrScruff - in reality buybacks are not distributions. Dividends are.HVPE buybacks are pretty insignificant; and of course dividends ZILCH. Nevertheless, I do trade HVPE from time to time; though always holding my nose and recognising that the HVPE managers/directors care nothing for shareholders. They just want to maximise their fees; and paying a dividend would of course hold back the NAV increase. |
Posted at 04/2/2024 20:24 by cerrito I held HVPE about 8 years ago and was impressed by Harborvest when they managed £50m for a pension fund I was involved in the last decade but they have been out of sight out of mind for me till I read today the following in Citywire.Will contain nothing new for many of you but interesting for some of you will be a good synopsis. quote HarbourVest Global Private Equity (HVPE) hopes to finally narrow its wide share price discount after it announced plans to return more capital to shareholders and move to a fully independent board. In response to shareholder feedback, including from wealth manager Quilter Cheviot, which began red-carding weak boards last September, the global private equity investor will establish a ‘distribution pool’ funded by profits on disposals that will be used for share buybacks and special dividends. The board and manager have agreed that 15% of cash realisations will go to the pool, which launches immediately, helped by a decision to place on hold a ‘specific̵ The company has languished on a discount of about 40% since 2022, giving the £3.1bn portfolio of funds and direct company stakes a market value of £1.8bn. A £25m buyback plan launched last May did nothing to move the dial. HVPE has purchased £45m worth of shares since September 2022 but expects the returns from the pool to be ‘materially greater’. As an indication, it said total annual cash proceeds received from disposals averaged $568m (£448.9m) over the last three calendar years. HVPE said that in deciding the timing, amount and nature of distributions, it would take into account the macroeconomic environment, the discount, market sentiment and ‘relative merits of distributing capital against the potential benefit of committing to new investment opportunities’ Ed Warner, chair of HVPE, said he had ‘engaged actively’ with shareholders in coming up with the proposals, and that the ‘new, more flexible policy, including the potential to pay dividends for the first time since HVPE was created, will make a significant difference to shareholders’. ‘It will help ensure they benefit more directly from the strong value growth delivered by HVPE’s high-quality portfolio, which has consistently outperformed public market benchmarks over the long term,’ he said. HVPE has delivered total underlying returns of 121% and 349% over five years and 10 years respectively, compared with the MSCI World, which rose 77% and 210%. However, investors haven’t reaped all the benefit as the shares have returned 62% and 254% over the same periods. Activity from the private equity sector has picked up in recent months after Pantheon International (PIN) was applauded by analysts for its ‘bold’ £200m buyback plan, with the board called ‘a leader’ in the space. Earlier this month, Abrdn Private Equity (APEO) said it was planning to use proceeds from selling its stake in Dutch discount retailer Action to start a buyback programme. Board independence The investment company also improved its governance structure following feedback from shareholders, including wealth manager Quilter Cheviot, who holds 4.6% of shares. Carolina Espinal, a managing director at HVPE, will not stand for re-election as a non-executive director at the annual general meeting in July. As a result, the board will be fully independent of its investment manager. However, Espinal and Richard Hickman, another managing director at HVPE, will be non-voting participants of the board and join the investment committee alongside managing director John Toomey and chief investment officer Greg Steno. ‘Board independence is an increasingly important area of focus for investors and I am confident HVPE will be viewed as having adopted best practice in this regard,’ said Warner. In September, the wealth management firm said it was opposed to employees of a trust’s fund manager sitting on the board as a non-independent as it set out its wider expectations for boards of the sector. Gemma Woodward, head of responsible investment at Quilter Cheviot, said she had engaged with the private equity company on independence and was ‘really pleased to see HVPE’s board take the move to become fully independent’. ‘It is good to see the power proactive engagement can have to help get boards acting in the interests of shareholders,’ said Woodward. ‘This sets a strong example to other trusts within the sector, which continue to have manager representation on the board.’ Quilter Cheviot’s sister company Quilter Investors also has a stake in HVPE with 2.5% of shares. Other large shareholders include M&G with 7.5%, Evelyn Partners and Lothian pension fund with 5.6% apiece, and Schroders with 5%. |
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