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HarbourVest Global Priv. Equity Ltd

12 June 2018

London, UK, 12 June 2018

Edison issues review on HarbourVest Global Private Equity (HVPE)

HarbourVest Global Private Equity (HVPE) aims to provide shareholders with access to the best private markets opportunities globally, through investing in a portfolio of HarbourVest funds. HVPE's portfolio is broadly diversified by underlying manager, vintage, strategy, stage and regional exposure. Its recent performance has been strong in its US dollar functional currency, with a 16.2% NAV total return in FY18, although currency moves have weighed on its performance in sterling terms. After three years of strong portfolio distributions, the 2018 commitment plan has been drawn up with a view to ensuring that HVPE moves closer to a fully invested position over the next two to three years.

Since reaching a five-year low of 9.6% in May 2017, HVPE's share price discount to NAV has widened towards the middle of its five-year range. The current 19.4% discount is wider than its 17.8% one-year average, but modestly narrower than its 20.0% and 20.5% averages over three and five years respectively.

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