HarbourVest Global Private Equity Limited A Shs (HVPE)

Sector:

Investment Firms

Index:

FTSE 250

2,570.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 2,585.00p
  • 52 Week Low: 2,120.00p
  • Currency: UK Pounds
  • Shares Issued: 76.29m
  • Volume: 167,434
  • Market Cap: £1,960.71m

HarbourVest reaches net asset value milestone

By Josh White

Date: Thursday 28 Sep 2017

LONDON (ShareCast) - (ShareCast News) - Closed-end investment company HarbourVest Global Private Equity posted its unaudited results for the six months to 31 July on Thursday, reporting 8% growth in net asset value per share to $19.98 during the period.
The FTSE 250 firm said its NAV per share had approximately doubled since the $10.00 starting point at inception in 2007.

Its annual compound growth rate was 12% in the five years to 31 July 2017, as measured in dollars, and its share price was up 6% to £12.70 as at 31 July.

The board also reported continued "active portfolio management", which it said supported the "next wave" of growth, with $162m committed to new HarbourVest funds, down from $200m a year ago, and $119m invested in private companies through HarbourVest funds, reducing from $131m.

HarbourVest said it saw $126m value growth from its investment portfolio, compared to $76m at the same time last year.

The board reported "strong performance" from early venture assets, direct co-investments and its European portfolio, adding that a 2006-vintage US buyout fund-of-funds was the largest individual contributor to NAV.

It made net realisations over the period, with $149m received - up from $101m a year ago - and larger exits being realised at a sustained weighted average of 30% above carrying value.

The company had net cash of $200m on the balance sheet at period end, with zero borrowings.

"The six months to 31 July 2017 has been a period of continued progress for HVPE," said chairman Sir Michael Bunbury.

"The company has delivered NAV growth of 8% in US dollars, building on eight consecutive full financial years of increasing NAV.

"Furthermore, the company has reached a significant milestone, with NAV per share now having doubled since launch."

Bunbury said that was testament to the ongoing success of HVPE's "consistent and proven" investment strategy.

"As HVPE approaches its ten-year anniversary this December, I would like to thank all our investors for their continued support.

"As the company enters its second decade, it is well-placed to take advantage of the investment opportunities available in private markets as the asset class continues to develop."

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HVPE Market Data

Currency UK Pounds
Share Price 2,570.00p
Change Today 10.00p
% Change 0.39 %
52 Week High 2,585.00p
52 Week Low 2,120.00p
Volume 167,434
Shares Issued 76.29m
Market Cap £1,960.71m

HVPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
37.41% above the market average37.41% above the market average37.41% above the market average37.41% above the market average37.41% above the market average
71.72% above the sector average71.72% above the sector average71.72% above the sector average71.72% above the sector average71.72% above the sector average
Price Trend
51.41% above the market average51.41% above the market average51.41% above the market average51.41% above the market average51.41% above the market average
56.44% above the sector average56.44% above the sector average56.44% above the sector average56.44% above the sector average56.44% above the sector average
Income Not Available
Growth
70.07% above the market average70.07% above the market average70.07% above the market average70.07% above the market average70.07% above the market average
59.86% above the sector average59.86% above the sector average59.86% above the sector average59.86% above the sector average59.86% above the sector average

HVPE Dividends

No dividends found

Trades for 18-Jul-2024

Time Volume / Share Price
16:38 7,950 @ 2,570.00p
16:36 96 @ 2,570.00p
16:35 25,163 @ 2,570.00p
16:35 1 @ 2,570.00p
16:35 239 @ 2,570.00p

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