30th May 2014 10:42
LONDON (Alliance News) - HarbourVest Global Private Equity Ltd Friday said its net asset value per share increased 15% during the financial year ended January 31 to USD14.38 per share from USD12.46 per share a year earlier.
The closed-end investment company said its total net asset value in the year was equivalent to USD1.17 billion.
"Growth across the underlying portfolio was driven by ongoing liquidity events and increasing
valuations alongside rising public equity markets. By stage, the venture portfolio outperformed buyout; by geography, the US outperformed other regions," HarbourVest said in a statement.
During the year the investment firm committed USD274 million to newly-formed HarbourVest funds, and said the investment pipeline as at January 31 of future commitments was USD567 million.
It said it invested USD163 million in HarbourVest funds during the year, which in turn made new primary, secondary, and direct co-investments.
The investment company's A shares were trading 0.7% higher at USD11.378 Friday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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