HarbourVest Global Harbourvest Global Private Equity Limited : Net Asset Value(s)

 
TIDMHVPE 
 
 
   15 January 2016 
 
   HARBOURVEST GLOBAL PRIVATE EQUITY ESTIMATED NET ASSET VALUE INCREASES 7% 
SINCE JANUARY 2015 
 
 
   -- ESTIMATED NAV INCREASES 1% IN DECEMBER TO $16.93 PER SHARE 
 
   -- $67 MILLION IN REALISATIONS DURING THE MONTH - highest in financial year 
 
   -- ADDITIONAL $132 MILLION committed TO U.S. HARBOURVEST X BUYOUT 
 
   -- investment pipeline of future commitments is $1.06 billion 
 
   -- HVPE joined THE FTSE 250 INDEX on 17 december 2015 
 
 
   HarbourVest Global Private Equity Limited ("HVPE" or the "Company"), a 
closed-end investment company, today announces its estimated Net Asset 
Value ("NAV") at 31 December 2015. 
 
   HVPE provides a complete private equity solution for public investors, 
managing the portfolio through four phases of the private equity cycle 
to create value: Commitments, Investment, Growth, and Realisation. 
 
   Commitments 
 
   During December, HVPE committed an additional $132.0 million to U.S. 
fund-of-funds HarbourVest X Buyout, bringing the total commitment to 
$232.0 million. HVPE's existing HarbourVest fund commitments continued 
to make new investments. 
 
   At 31 December 2015, the Investment Pipeline of future commitments was 
$1.06 billion, a $102.2 million increase from 30 November 2015 based on 
the new HarbourVest fund commitment, capital funded, and foreign 
currency movement. 
 
   Investment 
 
   During December, HVPE invested $31.7 million in HarbourVest 
fund-of-funds, direct co-investment funds, and a secondary fund. 
 
   Growth 
 
   At 31 December 2015, HVPE's estimated Net Asset Value (NAV) per share is 
$16.93, a $0.13 per share increase from the 30 November 2015 estimate of 
$16.80. This change was primarily driven by valuation uplifts and 
positive foreign currency movement. Consistent with prior December month 
ends, the entire portfolio reflects the investment manager's preliminary 
estimate of year-end 2015 valuation changes. These were partially offset 
by operating expenses. 
 
   Realisation 
 
   HVPE received $66.9 million in realisations from HarbourVest funds 
during December (compared to $31.2 million in November). This was the 
highest monthly total during the financial year. The largest sources of 
realisations included direct co-investment fund HarbourVest 2007 Direct, 
global secondary fund Dover VIII, and U.S. fund-of-funds HarbourVest VII 
Venture. During the month, there were a total of 47 liquidity events 
across HVPE's underlying portfolio, including 43 M&A transactions and 
four IPOs. 
 
   Balance Sheet and Credit Facility 
 
   HVPE has no drawings on its credit facility. At 31 December 2015, HVPE's 
cash ($219.1 million) and available credit ($500.0 million) total $719.1 
million. 
 
   Inclusion in the FTSE 250 Index 
 
   On 21 December 2015, HVPE announced its inclusion as a constituent of 
the FTSE 250 Index. The Company is now eligible for trading by 
index-tracker funds which is likely to further boost its liquidity. 
 
   Additional detail about HVPE's NAV and investment diversification can be 
found on HVPE's website, in the Monthly Update for 31 December 2015: 
http://www.hvpe.com//media/Files/H/Hvgpe/reports-and-presentations/estimated-monthly-nav/2015/31-december-2015-monthly-update.pdf 
. 
 
   Enquiries: 
 
 
 
 
 
HarbourVest 
Richard Hickman     Tel: [phone]    [e-mail] 
Laura Thaxter       Tel: [phone]       [e-mail] 
 
Fishburn 
Simon Anderson      Tel: [phone]    [e-mail] 
 Ludo Baynham-Herd 
 
 
 
 
   Notes to Editors: 
 
   About HarbourVest Global Private Equity Limited: 
 
   HarbourVest Global Private Equity Limited ("HVPE") is a 
Guernsey-incorporated closed-end investment company which has a dual 
listing on both the London Stock Exchange and Euronext Amsterdam. HVPE 
is registered as an investment institution with the Netherlands 
Authority for the Financial Markets. HVPE is designed to offer 
shareholders long-term capital appreciation by investing in a private 
equity portfolio diversified by geography, by stage of investment, by 
vintage year, and by industry. It invests in and alongside 
HarbourVest-managed funds which focus on primary fund commitments, 
secondary investments, and direct co-investments in operating companies. 
HVPE is advised by HarbourVest Advisers L.P., an affiliate of 
HarbourVest Partners, LLC. 
 
   About HarbourVest Partners, LLC: 
 
   HarbourVest Partners, LLC is an independent private markets specialist, 
providing investment programs and customized solutions focused on 
venture capital, buyout, mezzanine debt, credit, and real assets through 
primary fund investments, secondary purchases, and direct 
co-investments. HarbourVest has more than 300 employees in Asia, Europe, 
Latin America, and North America. In more than 30 years of investing in 
private equity, the team has committed more than $29 billion to 
newly-formed funds, completed over $12 billion in secondary purchases, 
and invested $4 billion directly in operating companies. The firm's 
clients include pension funds, endowments, foundations, and financial 
institutions around the globe. 
 
   This announcement is for information purposes only and does not 
constitute or form part of any offer to issue or sell, or the 
solicitation of an offer to acquire, purchase or subscribe for, any 
securities in any jurisdiction and should not be relied upon in 
connection with any decision to subscribe for or acquire any Shares.  In 
particular, this announcement does not constitute or form part of any 
offer to issue or sell, or the solicitation of an offer to acquire, 
purchase or subscribe for, any securities in the United States or to US 
Persons (as defined in Regulation S under the US Securities Act of 1933, 
as amended ("US Persons")).  Neither this announcement nor any copy of 
it may be taken, released, published or distributed, directly or 
indirectly to US Persons or in or into the United States (including its 
territories and possessions), Canada, Australia or Japan, or any 
jurisdiction where such action would be unlawful. Accordingly, 
recipients represent that they are able to receive this announcement 
without contravention of any applicable legal or regulatory restrictions 
in the jurisdiction in which they reside or conduct business. No 
recipient may distribute, or make available, this announcement (directly 
or indirectly) to any other person. Recipients of this announcement 
should inform themselves about and observe any applicable legal 
requirements in their jurisdictions. 
 
   The Shares have not been and will not be registered under the US 
Securities Act of 1933, as amended (the "Securities Act") or with any 
securities regulatory authority of any state or other jurisdiction of 
the United States and, accordingly, may not be offered, sold, resold, 
transferred, delivered or distributed, directly or indirectly, within 
the United States or to US Persons.  In addition, the Company is not 
registered under the US Investment Company Act of 1940, as amended (the 
"Investment Company Act") and shareholders of the Company will not have 
the protections of that act.  There will be no public offer of the 
Shares in the United States or to US Persons. 
 
   This announcement has been prepared by the Company and its investment 
manager, HarbourVest Advisers L.P. (the "Investment Manager"). No 
liability whatsoever (whether in negligence or otherwise) arising 
directly or indirectly from the use of this announcement is accepted and 
no representation, warranty or undertaking, express or implied, is or 
will be made by the Company, the Investment Manager or any of their 
respective directors, officers, employees, advisers, representatives or 
other agents ("Agents") for any information or any of the opinions 
contained herein or for any errors, omissions or misstatements. None of 
the Investment Manager nor any of their respective Agents makes or has 
been authorised to make any representation or warranties (express or 
implied) in relation to the Company or as to the truth, accuracy or 
completeness of this announcement, or any other written or oral 
statement provided. In particular, no representation or warranty is 
given as to the achievement or reasonableness of, and no reliance should 
be placed on any projections, targets, estimates or forecasts contained 
in this announcement and nothing in this announcement is or should be 
relied on as a promise or representation as to the future. 
 
   Other than as required by applicable laws, the Company gives no 
undertaking to update this announcement or any additional information, 
or to correct any inaccuracies in it which may become apparent and the 
distribution of this announcement. The information contained in this 
announcement is given at the date of its publication and is subject to 
updating, revision and amendment. The contents of this announcement have 
not been approved by any competent regulatory or supervisory authority. 
 
   This announcement includes statements that are, or may be deemed to be, 
"forward looking statements".  These forward looking statements can be 
identified by the use of forward looking terminology, including the 
terms "believes", "projects", "estimates", "anticipates", "expects", 
"intends", "plans", "goal", "target", "aim", "may", "will", "would", 
"could", "should" or "continue" or, in each case, their negative or 
other variations or comparable terminology. These forward looking 
statements include all matters that are not historical facts and include 
statements regarding the intentions, beliefs or current expectations of 
the Company.  By their nature, forward looking statements involve risks 
and uncertainties because they relate to events and depend on 
circumstances that may or may not occur in the future and may be beyond 
the Company's ability to control or predict. Forward looking statements 
are not guarantees of future performance.   More detailed information on 
the potential factors which could affect the financial results of 
 

January 15, 2016 04:00 ET (09:00 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

   the Company is contained in the Company's public filings and reports. 
 
   HarbourVest Global Private Equity Limited is registered with the 
Netherlands Authority for the Financial Markets as a collective 
investment scheme which may offer participations in The Netherlands 
pursuant to article 2:66 of the Financial Markets Supervision Act (Wet 
op het financieel toezicht). All investments are subject to risk. Past 
performance is no guarantee of future returns. Prospective investors are 
advised to seek expert legal, financial, tax and other professional 
advice before making any investment decision. The value of investments 
may fluctuate. Results achieved in the past are no guarantee of future 
results. 
 
   This announcement is issued by the Company, which is registered with the 
Netherlands Authority for the Financial Markets and whose registered 
address is Ground Floor  Dorey Court  Admiral Park  St Peter Port 
Guernsey GY1 2HT. 
 
   (c) 2016 HarbourVest Global Private Equity Limited. All rights reserved. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: HarbourVest Global Private Equity Limited via Globenewswire 
 
   HUG#1978972 
 
 
  http://www.hvgpe.com/ 
 

(END) Dow Jones Newswires

January 15, 2016 04:00 ET (09:00 GMT)