HVPE receives $19m in realisations

The largest source came from a co-investment in Conversus Capital, from which HarbourVest Partners bought a $1.4bn portfolio in 2012.

HarbourVest Global Private Equity (HVPE) received $19.1 million in realisations in March from HarbourVest Partners’ funds including its secondaries platform, according to the firm.

There were 44 liquidity events last month across HVPE’s underlying portfolio from HarbourVest’s US and international fund of funds, a global secondaries fund and secondaries co-investments, and a global direct co-investment fund, according to the listed vehicle’s 31 March Monthly Factsheet.

“The largest source of realisations was the co-investment in Conversus Capital,” the statement said.

HarbourVest acquired a $1.4 billion portfolio of private equity fund interests and direct co-investments from Conversus, a listed vehicle, in 2012, using various vehicles including Dover Street VIII, its 2011-vintage dedicated secondaries fund.

The realisations HVPE received in March were little changed from the $21.2 million it received in February.

In addition to 40 M&A events, there were four IPOs in March, including Chinese home entertainment software developer SMIT Holdings, which was held in the primary fund and secondaries portfolios via Mayfield Fund, Oak Investment Partners and Walden International.

HVPE made $35 million of investments into HarbourVest vehicles during March and no new commitments.

HVPE’s estimated net asset value per share was $16.99 on 31 March, a 3 percent increase from a month earlier.