HarbourVest Global Private Equity: Half Year Results
RESULTS FOR THE SIX MONTHS ENDED 31 JULY 2023
NAV per share reaches new high, with well-diversified portfolio demonstrating significant resilience
HarbourVest Global Private Equity Limited (“HVPE” or the “Company”), a FTSE 250 investment company with global exposure to private companies, managed by HarbourVest Partners, today announces its unaudited results for the six months ended 31 July 2023.
Net asset value (“NAV”) per share reaches new high, as highly diversified portfolio delivers growth despite challenging markets
- NAV per share growth of 3.3% over the period to $50.12 (31 January 2023: $48.52).
- Well-diversified portfolio delivering consistent long-term returns, with growth spread broadly across stage and strategy.
- Particular strength in buyout, secondary and European segments over the period.
- NAV growth supplemented by profitable exits, with weighted average uplift on carrying value of 32%.
Ongoing long-term outperformance of public markets
- Outperformance of FTSE All World Total Return (FTSE AW TR) Index of 5.2% annualised over the past 10 years.
- Absolute NAV per share return of 286% over 10 years to 31 July 2023 vs FTSE AW TR Index of 142% over the same period.
Below is HVPE’s recent results interview with Managing Director, Richard Hickman