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HarbourVest Global Private Equity

LN: HVPE

£1365.7m market cap

1710p last close

HarbourVest Global Private Equity is a Guernsey-incorporated, LSE-listed, closed-ended investment company. Its investment objective is to generate superior shareholder returns, relative to global listed equities, through long-term capital appreciation by investing primarily in a diversified portfolio of private markets investments. Performance is benchmarked against the All-World index.

Investment summary

Following HVPE’s August update, its last-reported NAV is now largely based on end-June valuations and captures the rebound in equity markets following the March downturn. In recent months, capital calls from underlying general partners (GPs) moderated compared to March/April while distributions to HVPE resumed (although are still below historical average). Consequently, HVPE was able to partially repay its credit facility and maintained a stable coverage ratio versus April. While the ratio remains relatively low compared to prior years, we still consider it a safe level.

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Share price graph
Price performance
%
1m
3m
12m
Actual 4.3 6.9 0.1
Relative* 5.5 11.6 19.5
52-week high/low 1868.0p/921.0p
*% relative to local index
Key management
Sir Michael Bunbury Chairman
Richard Hickman Fund Manager
Peter Wilson Non-executive director

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