Listed

The London-listed private equity investor urged shareholders to take no action on HarbourVest Partners' £1bn bid, saying the 650p-a-share final offer ‘undervalues the company’.

The secondaries firm acquired a 24% stake in the UK private equity firm through its 2006-vintage $4.8bn Coller International Partners V fund.

Listed funds of funds managed by HarbourVest Partners and SL Capital Partners were among vehicles that had drops in their share price after the UK's referendum result on Thursday.

London-listed HabourVest Global Private Equity plans to appoint consultants to conduct an appraisal of its board.

There were 44 liquidity events across HarbourVest Partners' listed fund of funds vehicle in April including at least two from its secondaries portfolio.

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

HarbourVest's listed vehicle made commitments to the firm's recently launched real assets secondaries fund and flagship Dover Street fund in February.

HarbourVest's listed fund of funds was included in the FTSE 250 Index last December, a move the firm said will help boost liquidity.

This is at least the fourth secondaries deal for the London private equity firm's EP1 Secondary Portfolio which invests from Electra's own capital.