TIDMHSLE

RNS Number : 8612H

HarbourVest Senior Loans Europe Ltd

23 May 2014

HarbourVest Senior Loans Europe Limited

Registered Office: Sarnia House, Le Truchot, St Peter Port, Guernsey GY1 4NA

Registered Number: 51719

Tel +44 (0)1481 737 600

Fax +44 (0)1481 749 829

www.hvsle.com

SPIRE PARTNERS LLP APPOINTED INVESTMENT MANAGER OF HARBOURVEST SENIOR LOANS EUROPE LIMITED

23 May 2014

HarbourVest Senior Loans Europe Limited ("HSLE" or the "Company") announces the appointment of Spire Partners LLP ("Spire"), an independent asset management firm focused on European non-investment grade credit, as its investment manager in place of HarbourVest Senior Loan Advisers L.P ("HarbourVest").

Spire has been acting as sub investment adviser since 28 February 2014 and will become the investment manager with immediate effect. The Company's previous investment management agreement with HarbourVest has now been terminated.

In addition, as the Company continues to address its cost base, the Board has decided to replace BNP Paribas Fund Services (Guernsey) Limited ("BNP") as administrator, and company secretary with Praxis Fund Services Limited ("Praxis"). The Praxis Group is one of the largest independently owned financial services groups based in the Channel Islands. The Board has further resolved that there is no current requirement for a custodian. Therefore, BNP Paribas Securities Services S.C.A. will cease to act as custodian for the Company. Praxis will provide safe keeping services for any documents of title relating to the loans.

Colin Maltby, Chairman of HSLE, said: "We would like to thank HarbourVest and BNP for their involvement in the Company to date, and are looking forward to working with Spire Partners during this next phase of HSLE's evolution."

A meeting of the Company's shareholders will be convened in due course at which a resolution to change the name of the Company to remove the reference to HarbourVest will be put forward.

Enquiries:

 
 HSLE 
  Company Secretary     01481 737 600/ nicole.barnes@praxisgroup.com 
 Spire Partners 
 Jonathan Russell     020 7042 6300 / enquiries@SpireLLP.com 
 
 HarbourVest 
 Stuart Howard        020 7399 9815 / showard@harbourvest.com 
 
 Liberum 
 Chris Bowman         020 3100 2000 / chris.bowman@liberum.com

Notes to Editors:

About Spire Partners LLP:

Established in 2012, Spire Partners LLP is an independent asset management firm focused on European non-investment grade credit.

Spire was founded by seasoned leverage finance and private equity investment professionals, who previously worked together managing a variety of fund types including credit opportunities, collateralised loan obligations ("CLOs"), managed accounts and private equity funds. The team has a track record of consistently delivering superior risk adjusted returns.

Spire currently has a sub-advisory arrangement with the UK affiliate of a US multi-strategy institutional investor to invest in European non-investment grade credit, and has been acting as sub investment adviser on the HarbourVest Senior Loans Europe vehicle since February 2014.

Spire is authorised and regulated in the United Kingdom by the Financial Conduct Authority.

To learn more about Spire Partners, please visit www.SpireLLP.com

About HarbourVest Senior Loans Europe Limited:

HarbourVest Senior Loans Europe Limited is a Guernsey-incorporated company listed on the main market of the London Stock Exchange.

The Company's investment objective is to provide shareholders with a combination of a high level of income and capital growth over time, whilst preserving capital. The investment period of HSLE has now concluded and the Company has invested in accordance with its original investment policy and objective in senior secured loans of private equity-backed European mid-market companies.

The Company is registered as a closed-ended investment scheme in accordance with the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended and the Registered Collective Investment Scheme Rules 2008 issued by the Guernsey Financial Services Commission (the "Commission"). The Company is regulated by the Commission and is not regulated or authorised by the Financial Conduct Authority, but is subject to the Listing Rules applicable to closed-ended investment companies.

To learn more about HSLE, please visit www.hvsle.com

This announcement is issued by the Company, whose registered address is at Sarnia House, Le Truchot, St Peter Port, Guernsey, GY1 4NA, Channel Islands.

(c) 2014 HarbourVest Senior Loans Europe Limited. All rights reserved.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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