HVPE commits $36m to HarbourVest FoFs

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.