REG - HarbourVest Global - HVPE $125m Commitment to new SMA Structure

Harbourvest Global Private EquityAnnouncement

Tue 07:00

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RNS Number : 4487X  HarbourVest Global Priv. Equity Ltd  02 September 2025

2 September 2025

 

 

HVPE Announces $125m Initial Commitment to New Separately Managed Account
Structure

 

London, 2 September 2025 - HarbourVest Global Private Equity Limited ("HVPE"
or the "Company"), a FTSE 250 investment company with global exposure to
private companies, managed by HarbourVest Advisers L.P., an affiliate of
HarbourVest Partners, LLC, (the "Manager" or "HarbourVest Partners"), is
pleased to announce that the Board has formally signed a Limited Partnership
Agreement with HarbourVest Partners for its recently announced Separately
Managed Account ("SMA") and has committed $125 million to the new structure.

 

The signing marks a significant milestone in the Company's transition to its
new investment model and reflects HVPE's ongoing commitment to building a
diversified global private equity portfolio, with a balanced approach across
investment strategies, stages, and geographies.

 

Allocation

 

To complement HVPE's existing current portfolio construction and asset
allocation targets, the first $125 million commitment will be allocated as
follows:

 

·    Strategy: Primary: 80%; Co-investment: 20%;

·    Stage: Buyout: 70%; Venture/Growth: 30%

·    Geography: North America: 60%; Europe: 25%; Asia: 15%;

 

Benefits of the SMA structure

 

The adoption of the SMA structure is a key component of HVPE's strategy to
maximise shareholder value and enhance portfolio flexibility. The benefits of
the SMA have been laid out in the Board's May announcement (full version here
(https://www.hvpe.com/media/5wlhnrw5/hvpe-announces-transition-to-new-investment-model.pdf)
), and include but are not limited to:

 

·      Reduction in Debt Exposure: By investing through the SMA, HVPE's
look-through exposure to borrowing at the HarbourVest fund level is expected
to decline rapidly over the next four years as the funds in the existing
portfolio mature and pay down debt. Additionally, the Company's pipeline of
unfunded commitments to HarbourVest funds will also decline, leading to more
predictable cash flows and a reduced need for borrowing at the HVPE level.

 

·      Greater Flexibility: The new SMA structure will give greater
control over investment pacing and portfolio liquidity. This will provide HVPE
with increased flexibility to respond to market opportunities and manage
portfolio composition more proactively.

 

The Board believes that these enhancements will position HVPE to deliver
sustainable value for shareholders, while maintaining the Company's
disciplined approach to private equity investing.

 

- ENDS -

 

 

Enquiries:

 Shareholders
 HarbourVest Partners
 Richard Hickman                               Tel: +44 (0)20 7399 9847   rhickman@harbourvest.com (mailto:rhickman@harbourvest.com)
 Stephanie Hocking                             Tel: +44 (0)20 7399 9834   shocking@harbourvest.com (mailto:shocking@harbourvest.com)

 Peel Hunt (Joint Broker)
 Luke Simpson /                                Tel: +44 (0)20 7418 8900   luke.simpson@peelhunt.com (mailto:shocking@harbourvest.com)
 Huw Jeremy (Investment Banking)                                          huw.jeremy@peelhunt.com (mailto:huw.jeremy@peelhunt.com)
 Alex Howe /                                                              alex.howe@peelhunt.com (mailto:alex.howe@peelhunt.com)
 Ed Welsby (Sales)                                                        ed.welsby@peelhunt.com (mailto:ed.welsby@peelhunt.com)

 Winterflood Investment Trusts (Joint Broker)
 Neil Morgan /                                 Tel: +44 (0) 20 3100 0000  neil.morgan@winterflood.com (mailto:neil.morgan@winterflood.com)
 Joe Winkley (Corporate Finance)                                          joe.winkley@winterflood.com (mailto:joe.winkley@winterflood.com)
 Hugh Middleton                                                           hugh.middleton@winterflood.com (mailto:hugh.middleton@winterflood.com)
 Darren Willis (Sales)                                                    darren.willis@winterflood.com (mailto:darren.willis@winterflood.com)

 Media                                                                    HVPE@camarco.co.uk (mailto:HVPE@camarco.co.uk)

 Camarco
 Billy Clegg
 Jennifer Renwick

 Amrith Uppuluri

 HarbourVest Partners                                                     media@harbourvest.com (mailto:media@harbourvest.com)

 

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 asset manager with over
43 years of experience.

 

About HarbourVest Partners, LLC:

 

HarbourVest is an independent, global private markets firm with over 43 years
of experience and more than $147 billion of assets under management as of
March 31, 2025. Our interwoven platform provides clients access to global
primary funds, secondary transactions, direct co-investments, real assets and
infrastructure, and private credit. Our strengths extend across strategies,
enabled by our team of more than 1,250 employees, including more than 235
investment professionals across Asia, Europe, and the Americas. Across our
private markets platform, our team has committed more than $63 billion to
newly-formed funds, completed over $64 billion in secondary purchases, and
invested over $47 billion in direct operating companies. We partner
strategically and plan our offerings innovatively to provide our clients with
access, insight, and global opportunities.

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