Appointment of Director

RNS Number : 9887L

HarbourVest Global Priv. Equity Ltd

25 April 2018

 

25 April 2018

HARBOURVEST GLOBAL PRIVATE EQUITY ANNOUNCES prospective APPOINTMENT and retirement OF DIRECTORs

HarbourVest Global Private Equity Limited ("HVPE" or the "Company") is pleased to announce the appointment of Steven Wilderspin as a non-executive director of the Company with effect from 14 May 2018.

Steven has more than ten years' experience as a non-executive director on the boards of private equity partnerships and listed investment companies. He has recently retired after ten years' service on the board of 3i Infrastructure where he served as Chairman of the Audit and Risk Committee.  Prior to this, he was a Director at Maples Finance Jersey, with responsibility for their fund administration and fiduciary businesses from 2002-2007.

Steven began his career at PwC in 1990.  He is a resident of Jersey, is a qualified Chartered Accountant and has experience of entities reporting under US GAAP as well as UK GAAP and IFRS.

The Company also announces that Jean-Bernard Schmidt, a director of the Company since its listing in 2007, has advised that he does not intend to offer himself for re-election at the Annual General Meeting to be held on 19 July 2018.

Sir Michael Bunbury, Chairman of HVPE, said:

"The Board of HarbourVest Global Private Equity is delighted that Steven will be joining the Board of HVPE. He brings considerable professional, listed company and industry experience that will be hugely valuable to our Board as we continue to navigate an increasingly complex accounting and regulatory environment.

On behalf of all shareholders I thank Jean-Bernard Schmidt for his service as a director of HVPE since the Company's original listing in Amsterdam in 2007.  His forty-year experience of the private equity world has been invaluable as a member of the Board guiding the Company from its early years through its transition to a FTSE 250 listed entity."

Regulatory Disclosure

Mr Wilderspin holds, or has held within the five years prior to the date of this announcement, the following directorships and partnerships of publicly quoted companies:

Current directorships / Partnerships - Publicly Quoted	Past directorships / Partnerships - Publicly Quoted
Blackstone/GSO Loan Financing Limited (2017 - current)	3i Infrastructure plc (2007 - 2017)

There is no information concerning Mr Wilderspin which is required to be disclosed pursuant to Listing Rule 9.6.13 R (2) to (6) inclusive.

- ENDS -

Enquiries:

HVPE
Richard Hickman	Tel: [phone]		[e-mail]
Charlotte Edgar	Tel: [phone]		[e-mail]
HarbourVest Partners
Laura Thaxter	Tel: [phone]		[e-mail]
MHP Communications
Charlie Barker / Tim Rowntree / Kelsey Traynor	Tel: [phone]		[e-mail]

Notes to Editors:

About HarbourVest Global Private Equity Limited:

HarbourVest Global Private Equity Limited ("HVPE" or the "Company") is a Guernsey-incorporated, closed-end investment company which is listed on the Main Market of the London Stock Exchange and is a constituent of the FTSE 250 index. HVPE is designed to offer shareholders long-term capital appreciation by investing in a private equity portfolio diversified by geography, stage of investment, vintage year, and industry. The Company invests in and alongside HarbourVest-managed funds which focus on primary fund commitments, secondary investments and direct co-investments in operating companies. HVPE's investment manager is HarbourVest Advisers L.P., an affiliate of HarbourVest Partners, LLC, an independent, global private markets investment specialist with more than 35 years of experience.

About HarbourVest Partners, LLC:

HarbourVest is an independent, global private markets investment specialist with more than 35 years of experience and more than $45 billion in assets under management. The Firm's powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 400 employees, including more than 100 investment professionals across Asia, Europe, and the Americas. This global team has committed more than $32 billion to newly-formed funds, completed over $18 billion in secondary purchases, and invested over $7 billion directly in operating companies. Partnering with HarbourVest, clients have access to customised solutions, longstanding relationships, actionable insights, and proven results.

This announcement is for information purposes only and does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in any jurisdiction and should not be relied upon in connection with any decision to subscribe for or acquire any Shares.  In particular, this announcement does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the United States or to US Persons (as defined in Regulation S under the US Securities Act of 1933, as amended ("US Persons")).  Neither this announcement nor any copy of it may be taken, released, published or distributed, directly or indirectly to US Persons or in or into the United States (including its territories and possessions), Canada, Australia or Japan, or any jurisdiction where such action would be unlawful. Accordingly, recipients represent that they are able to receive this announcement without contravention of any applicable legal or regulatory restrictions in the jurisdiction in which they reside or conduct business. No recipient may distribute, or make available, this announcement (directly or indirectly) to any other person. Recipients of this announcement should inform themselves about and observe any applicable legal requirements in their jurisdictions.

The Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and, accordingly, may not be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, within the United States or to US Persons.  In addition, the Company is not registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act") and shareholders of the Company will not have the protections of that act.  There will be no public offer of the Shares in the United States or to US Persons.

This announcement has been prepared by the Company and its investment manager, HarbourVest Advisers L.P. (the "Investment Manager"). No liability whatsoever (whether in negligence or otherwise) arising directly or indirectly from the use of this announcement is accepted and no representation, warranty or undertaking, express or implied, is or will be made by the Company, the Investment Manager or any of their respective directors, officers, employees, advisers, representatives or other agents ("Agents") for any information or any of the opinions contained herein or for any errors, omissions or misstatements. None of the Investment Manager nor any of their respective Agents makes or has been authorised to make any representation or warranties (express or implied) in relation to the Company or as to the truth, accuracy or completeness of this announcement, or any other written or oral statement provided. In particular, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on any projections, targets, estimates or forecasts contained in this announcement and nothing in this announcement is or should be relied on as a promise or representation as to the future.

Other than as required by applicable laws, the Company gives no undertaking to update this announcement or any additional information, or to correct any inaccuracies in it which may become apparent and the distribution of this announcement. The information contained in this announcement is given at the date of its publication and is subject to updating, revision and amendment. The contents of this announcement have not been approved by any competent regulatory or supervisory authority.

This announcement includes statements that are, or may be deemed to be, "forward looking statements".  These forward looking statements can be identified by the use of forward looking terminology, including the terms "believes", "projects", "estimates", "anticipates", "expects", "intends", "plans", "goal", "target", "aim", "may", "will", "would", "could", "should" or "continue" or, in each case, their negative or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts and include statements regarding the intentions, beliefs or current expectations of the Company.  By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond the Company's ability to control or predict. Forward looking statements are not guarantees of future performance.   More detailed information on the potential factors which could affect the financial results of the Company is contained in the Company's public filings and reports.

All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.

This announcement is issued by the Company, whose registered address is Ground Floor Dorey Court, Admiral Park, St Peter Port, Guernsey, GY1 2HT.

© 2018 HarbourVest Global Private Equity Limited. All rights reserved.

 

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