HVPE commits $36m to HarbourVest FoFs

The listed fund of funds committed to two HarbourVest funds with secondaries exposure last month.

HarbourVest Global Private Equity Limited (HVPE) committed to two HarbourVest funds of funds in June, according to a statement.

HVPE is HarbourVest Partners’ listed fund of funds. It invests in and alongside HarbourVest-managed funds, providing investors with a long-term capital appreciation by investing through a diversified private equity portfolio.

Last month, it committed $25.8 million to Europe-focused fund of funds HIPEP VII Europe, bringing the total commitment to the fund to $70.4 million. HIPEP VII Europe is a fund of funds that makes primary, secondary and co-investments in buyout, venture capital and mezzanine funds in Europe.

HVPE also committed $10 million to HarbourVest 2015 Global Fund, bringing the total commitment to $60 million. That fund has raised $108.12 million so far, according to a Securities and Exchange Commission regulatory filing last week.

In June, HVPE also invested $50.3 million in HarbourVest US and international funds of funds, global secondary funds and a direct co-investment fund, according to the statement.

As of 30 June, HVPE’s net asset value per share is $16.36, 3 cents lower than its 31 May NAV.

Earlier this summer, HarbourVest Partners bought a stake in PAI Partners’ PAI Europe IV-B from Canada Pensions Plan Investment Board for an undisclosed sum.

As of 30 June, the investment pipeline of future commitments was $960.9 million, according to the statement.