REG - HarbourVest Global - HVPE Announces Asset Sale

Harbourvest Global Private EquityAnnouncement

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RNS Number : 6581L  HarbourVest Global Priv. Equity Ltd  16 December 2025

 

16 December 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS IT FORMS PART OF ENGLISH LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). THE PERSON
RESPONSIBLE FOR ARRANGING THE RELEASE OF THIS ANNOUNCEMENT ON BEHALF OF
HARBOURVEST GLOBAL PRIVATE EQUITY LIMITED IS MARTIN BOURGAIZE, COMPANY
SECRETARY. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY
INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN FOR THE PURPOSES OF UK MAR.

 

HarbourVest Global Private Equity Limited Announces Asset Sale

 

London, 16 December 2025 - The Board of Directors of HarbourVest Global
Private Equity Limited ("HVPE" or the "Company"), a FTSE 250 investment
company managed by HarbourVest Partners with global exposure to private
companies, announces that binding terms have been agreed for an asset sale
generating net proceeds of $300 million. A curated portfolio of five
HarbourVest fund positions, focused on buyout investments, will be sold at a
blended discount to NAV of 6%. This sale (the "Transaction") will generate
substantial liquidity while bringing HVPE's buyout allocation closer to the
target level. Proceeds from the Transaction are expected to be received in
tranches in March ($138 million) and December 2026 ($162 million). Under the
Company's established Distribution Pool framework, a total of $90 million
(30%) of the proceeds will be allocated to the Pool as the cash is received.

 

Key Highlights:

·      The selection of five HarbourVest funds achieved a price
representing 94% of the combined funds' NAV as at 30 June 2025 (being the NAV
reference date used for the Transaction).

·      The Board expects the Transaction to strengthen HVPE's balance
sheet by reducing debt outstanding on the revolving credit facility, and to
facilitate additional near-term commitments to the Company's new Separately
Managed Account ("SMA").

·      The Transaction will reduce HVPE's total unfunded commitments by
$105 million and fund-level borrowing by $28 million.

·      The divested portfolio comprises one co-investment fund and four
fund-of-funds vehicles, all with a focus on buyout investments, and represents
7.7% of the Company's NAV as at 30 June 2025

·      The Company's Investment Manager, HarbourVest Partners ("the
Manager"), selected assets that had performed well but which could be sold
with a manageable impact on HVPE's projected portfolio growth rate, despite
being exited at a relatively early stage in their life cycle.

·      The Manager is continually monitoring both buy-side and sell-side
opportunities in the secondary market. The Transaction is the result of a
competitive process that was initiated in early September.

·      Total net proceeds will be adjusted to account for any cash flows
to or from the sold assets up to the closing date of 31(st) March 2026.

 

Ed Warner, Chair of HVPE, commented: "This transaction is a clear
demonstration of HVPE's proactive approach to portfolio management and our
commitment to delivering long-term value for shareholders. We have taken
decisive steps to enhance liquidity and the size of the Distribution Pool, to
align the portfolio with our strategic objectives, and to ensure we remain
well-positioned to capture future opportunities.

The Board is confident that this sale, conducted at a highly attractive price,
will support our ongoing efforts to narrow the discount to NAV and strengthen
the Company's financial position. The Investment Manager is constantly
evaluating the secondary market and has taken advantage of the opportunity
presented by the current strong appetite for this sub-set of funds within
HVPE's diversified portfolio.

The Board is particularly pleased to have achieved this outcome. It provides a
stark contrast to HVPE's share price discount to NAV, which remains a primary
focus of our work. I would like to thank our shareholders for their ongoing
support as we continue to navigate a dynamic market environment on their
behalf."

 

 

- ENDS -

LEI: 213800NBWV6WWV8TOL46

 

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 $146 billion of assets under management as of June
30, 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 1,270 employees, including more than 230
investment professionals across Asia, Europe, and the Americas. Across our
private markets platform, our team has committed more than $64 billion to
newly-formed funds, completed over $66 billion in secondary purchases, and
invested over $49 billion in direct operating companies. HarbourVest Data, as
of June 30, 2025. Sum of committed capital since inception (1982) for Primary,
Secondary, and Direct (including Real Assets and Credit). Includes commitments
made prior to start of track record universe inception date (1993 for
primaries, 1986 for secondaries, and 1989 for directs). Includes commitments
made on behalf of custom accounts; excludes commitments made where a limited
deal / diligence review was provided based on respective clients' account
criteria. Commitment amounts reflect

the aggregate commitments made by HarbourVest to Primary, Secondary, and
Direct investments since inception, and are presented gross of leverage. We
partner strategically and plan our offerings innovatively to provide our
clients with access, insight, and global opportunities. Please note that all
other HarbourVest Key Firm Stats, where provided, are as of June 30, 2025,
unless otherwise noted.

 

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 of the Company's ordinary shares (the "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 BNP
Paribas House, St Julian's Avenue, St Peter Port, Guernsey, GY1 1WA

 

© 2025 HarbourVest Global Private Equity Limited. All rights reserved.

 

 

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