HVPE 2024 ANNUAL CASHFLOW UPDATE AT 31 DECEMBER 2024

HarbourVest Global Private Equity Limited (“HVPE” or the “Company”), a FTSE 250 investment company with global exposure to private companies, managed by HarbourVest Partners, is today publishing an inaugural cashflow update for the 2024 calendar year.

• HVPE had a fifth consecutive month of positive net cash flow in December 2024, with a net $39 million received during the month.
• HVPE received distributions of $89 million from HarbourVest funds during December 2024 (compared to $40 million in November 2024, and $71 million in December 2023).
• During December 2024, HVPE invested $50 million into HarbourVest funds (compared to $25 million in November 2024, and $76 million in December 2023).
• Contributions to the Distribution Pool during December 2024 totalled $13.3 million (compared to $6.1 million in November 2024), representing 15% of the gross cash distributions received during the month.
• The Distribution Pool held a balance of $52 million at the end of December, after total purchases of $90 million of shares during the course of 2024, which the Board has indicated will be utilised for share buybacks for the foreseeable future.
• Through 2024 HVPE received $377 million in distributions and invested $422 million in HarbourVest funds, equivalent to 10% and 11% of opening NAV, compared with $307 million in distributions and $591 million invested, equivalent to 8% and 16% of opening NAV in 2023.
• A notable contribution to the 2024 figure was the secondary sale announced in October 2024 which is expected to total $45 million, of which $44 million had been received as at 31 December.
• The Board and Investment Manager are expecting a further recovery in distributions for 2025, bringing the total for the year ahead closer to HVPE’s 10 year average of 19% of opening NAV.

Additional detail about HVPE’s most recent NAV and investment diversification can be found on HVPE’s website, in the Monthly Update for 30 November 2024.

The HVPE team is here to discuss any questions you may have, so please do not hesitate to contact Richard Hickman or Stephanie Hocking using the contact details below.

Below is an interview with Chairman Ed Warner & Managing Director, Richard Hickman