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PRINT THIS PAGE HarbourVest to list new investment vehicle on Euronext Amsterdam06/11/2007. Source: AltAssets. 
Private equity fund of funds manager HarbourVest Partners has announced plans to list HarbourVest Global Private Equity (HVPE), a newly established closed-ended investment company, incorporated in Guernsey, on NYSE Euronext in Amsterdam. The new company will be managed by HarbourVest Advisers, an affiliate of HarbourVest Partners. HVPE is expected to raise up to $400m in cash proceeds from the offerings. In addition to the new funds to be raised, a number of existing HarbourVest limited partners are contributing their interests in existing HarbourVest funds to the company in exchange for shares that will be subject to a lock-up, the firm said in a statement. On admission the company's initial market capitalisation is expected to be approximately $830m.
Following the completion of the offerings, HarbourVest plans to have more than 90 per cent of HVPE's equity capital invested in a portfolio of HarbourVest-managed funds.
Brooks Zug, director of HVPE and senior managing director of HarbourVest, said, 'We are very pleased to announce the launch of HVPE. HarbourVest is celebrating its 25th anniversary this year, and HVPE represents the latest phase in our growth. HarbourVest has one of the longest track records in the industry and one of the most experienced management teams and has achieved top quartile performance across all our private equity activities. HVPE is the only opportunity public equity investors have to access our highly successful funds through a listed vehicle.'
George Anson, director of HVPE and managing director of HarbourVest, added, 'HVPE represents a fantastic opportunity for public market shareholders to access private-equity style returns, whilst benefiting from the liquidity of a listed vehicle. This is a compelling offering for shareholders, which we believe provides a strong platform for NAV growth.'
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