Edison Investment Research - HarbourVest Global Private Equity (HVPE) HarbourVest Global Private Equity - Accessing global megatrends in private markets

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Edison Investment Research

Gavin Wood

HarbourVest Global Private Equity - Accessing global megatrends in private markets

HarbourVest Global Private Equity (HVPE) offers broad, selected exposure to leading private equity managers globally, and has a highly diversified underlying portfolio. HVPE celebrated its 10th anniversary in December 2017, and its 10-year sterling NAV total return of 12% pa is ahead of its global listed equity benchmarkâ€™s 10% pa return, as well as the 6% pa return of the LPXÂ 50 Index, representing its global listed private equity peers. However, an 11% gain in sterling versus the US dollar (HVPEâ€™s functional currency) has weighed heavily on its one-year sterling returns. Looking ahead, HVPE believes its unique access to HarbourVest funds should enable it to capture the opportunities created by key global megatrends that are expected to dominate private markets over the next 10 years.

16/03/2018 8 EN

Underlying

HarbourVest Global Private Equity

Harbourvest Global Private Equity is a closed-end investment company. Co. invests primarily in a portfolio of private equity investments. Co. may also make investments in private market assets other than private equity. Co. primarily invests in investment funds managed by HarbourVest Partners, LLC (HarbourVest), which invest in or alongside third party-managed investment funds (HarbourVest Funds). There are three types of HarbourVest Funds: Primary HarbourVest Funds; Secondary HarbourVest Funds; and Direct HarbourVest Funds. Co. is managed by HarbourVest Advisers L.P.

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GG00BR30MJ80 London Stock Exchange Guernsey

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Gavin Wood

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HarbourVest Global Private Equity - Accessing global megatrends in private markets

HarbourVest Global Private Equity - Termination of coverage

HarbourVest Global Private Equity - Rebounding NAV, liquidity remains secured

HarbourVest Global Private Equity - Secured liquidity

Record - AUME momentum and a sharper focus

Actinogen Medical - Funding in place through key catalysts

Henderson Opportunities Trust - A differentiated exposure to smaller companies

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