HarbourVest Global Private Equity Ltd - Guernsey-incorporated investment fund - Net asset value at June 24 was $51.37 per share, about £40.32, up 3.4% in dollars from $49.67 at the start of its financial year on January 31. Says in June secured an extended revolving credit facility increase from $800.0 million to $1.20 billion to provide working capital headroom and flexibly in allocation decisions. Notes shareholder distribution pool begun February 1 to fund dividends and buybacks. Current pool balance was $40 million at June 30. Expects to allocate $150 million to $250 million to the pool between 2024 and 2025. Has contributed $79.1 million total to pool thus far. Says as investments and macroeconomic environment improve, exits are above its 12 month average and it sees initial public offerings and mergers and acquisitions activity to continue throughout the year. Further announces managing director Carolina Espinal to step down effective today, but to remain on company investment committee.

Chair Ed Warner said: ‘The board has made significant progress on a number of fronts over the past year, most notably the initiation of our distribution pool to improve future returns to shareholders. We are pleased that our net asset value has remained resilient in challenging equity markets and the share price discount has started to narrow. We hope this trend persists as shareholders benefit from the actions we have taken to optimise returns throughout the cycle.’

Current share price: 2,550.00 pence

12-month change: up 18%

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