Edison update on HarbourVest Global Private Equity

RNS Number : 3748B

HarbourVest Global Priv. Equity Ltd

06 October 2015

 

London, UK, 6 October 2015

Edison issues research update on HarbourVest Global Private Equity

Judging by prevailing discounts to net assets, broad fund of fund investors in private equity are not a particularly favoured group within the investment company sector. However, a fund such as HarbourVest Global Private Equity (HVPE) can be seen as having appealing attributes: in addition to a still wide discount, it is structured and managed to ensure diversification by vintage, stage, geography, strategy and industry. The management team has substantial experience, a wide industry network and follows a consistent approach to investment, further mitigating the risks inherent in private equity investment. The NAV performance since inception compares well with the MSCI All World and private equity indices.

HVPE's current discount of c 23% compares with a private equity sector average of about 19%, excluding 3i. While the discount is narrower than it has been, it is still wide in absolute terms; the performance track record and the move to the Main Market could be factors in a further tightening.

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