Confidential HarbourVest Global Private Equity Limited Presentation at HarbourVest Partners Private Equity Seminar 1
Confidential Disclaimer STRICTLY CONFIDENTIAL This document and this presentation have been prepared and issued by HarbourVest Global Private Equity Limited (the “Company”) for information purposes only and may not be used in making any investment decision. None of the Company, its investment manager, HarbourVest Advisers, L.P. (the “Investment Manager”) or HarbourVest Partners, LLC (“HarbourVest”) has independently verified the information contained in this document and this presentation. This document and this presentation contain only summary information and no representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information contained herein and no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) is or will be accepted by the Company, HarbourVest, the Investment Manager or any of their respective affiliates or by any of their respective officers, employees or agents in relation to it. Each of the Company, HarbourVest, the Investment Manager and their respective affiliates and officers, employees or agents expressly disclaims any and all liability which may be based on the document and any errors therein or omissions therefrom. In particular, no representation or warranty is given as to the achievement or reasonableness of future projections, management targets, estimates, prospects or returns, if any. Any views contained herein are based on financial, economic, market and other conditions prevailing as of the date of this document and this presentation. The information contained in this document and this presentation will not be updated. Further information on the Company, its Investment Manager and HarbourVest can be found in the prospectus published on 2 November 2007, in connection with the listing of the Company’s A ordinary shares on Euronext Amsterdam by NYSE Euronext (available at no cost from www.euronext.com), and on the Company’s website at www.hvgpe.com and HarbourVest’s website at www.harbourvest.com, including in announcements available on those sites. This document and this presentation do not constitute any form of financial opinion or recommendation on the part of the Company, HarbourVest or the Investment Manager or any of their respective affiliates and are not intended to be an offer, or the solicitation of any offer, to buy or sell any securities in any jurisdiction. This document and this presentation contain track record data in relation to the performance of funds of funds managed by HarbourVest and its affiliates. When considering such track record data, investors should bear in mind that past performance is not necessarily indicative of future results and, as a result, the Company’s actual returns may be greater or less than the amounts shown herein. Investment returns will depend on the increase or decrease in the trading price of the Company’s shares. In addition the Company is a closed-end investment company and the performance data presented herein for HarbourVest, as well as the private equity index performance data, relates principally to funds structured as self-liquidating partnerships and in which investor contributions were made only when the underlying fund made an actual investment. Neither this document, nor this presentation, nor any copy of either may be taken or transmitted into the United States of America, its territories or possessions or distributed, directly or indirectly, in the United States of America, its territories or to any US person (as defined in Rule 902 of Regulation S under the US Securities Act of 1933 (the “Securities Act”)). The distribution of this document and this presentation in other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. This document and this presentation are being distributed in the United Kingdom only to (a) persons who have professional experience in matters relating to investments who fall within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (b) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) (a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. Any investment or investment activity to which the presentation and these slides relate is available only to relevant persons and will be engaged in only with relevant persons. The Company has been registered with the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten) as a collective investment institution which may offer participations in the Netherlands pursuant to article 2:66 of the Dutch Financial Markets Supervision Act. By participating in this presentation or by accepting any copy of this document, you agree to be bound by the foregoing limitations. 2 14 October 2008
Confidential HarbourVest Global Private Equity Limited (“HVPE”) www.hvgpe.com • A Guernsey-registered, publicly-listed, closed-end investment company Company • Designed to offer shareholders superior long-term capital Overview appreciation by investing in a diversified private equity portfolio “HVPE” • $830 million offering in December 2007 at $10.00 per share; Listing on Euronext Amsterdam • HarbourVest expertise and stability • Diversified portfolio Key • Proven investment strategy Investment • Shareholder friendly structure Highlights • $500 million credit facility enhances financial flexibility • Estimated Net Asset Value $817 million NAV • Estimated NAV of Investments $838 million Update (103% invested) as at • Total Private Equity Exposure $1,562 million 30 September 2008 • Estimated Net Asset Value per Share $9.84 3
Confidential Portfolio Composition • Interests in 20 HarbourVest-managed funds • Comprised of 538 fund interests across multiple high-quality managers • Exposure to 5,612 company investments (directly or indirectly) • NAV split approximately 64% primary, 20% secondary and 16% direct investments at 30 September 2008 4
Confidential HVPE Provides Access to a Full Selection of HarbourVest Funds New Initial Portfolio at IPO Commitments '80 '81 '82 '83 '84 '85 '86 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 U.S. Fund I Fund II Fund III Fund IV Fund V Fund VI Fund VII Fund VIII FUND OF 1982-86 1986-89 1989-93 1993-96 1996-1999 1999-03 2003-06 2006-09 FUNDS NON-U.S. HIPEP HIPEP II HIPEP III HIPEP IV HIPEP V HIPEP VI FUND OF 1990-95 1995-98 1998-01 2001-05 2005-08 2008-11 FUNDS SECONDARY Dover Ia Dover II Dover III Dover IV Dover V Dover VI Dover VII FOCUSED 1991-94 1994-96 1996-99 1999-02 2002-05 2005-07 2007-09 DIRECT/ 2004 Direct 2007 Direct CO- 2004-07 2007-10 INVEST Note: Dotted element represents history of investments in respective private equity strategies. Before dedicated funds were formed, investments were made from existing funds. Represents funds in which HVPE has an interest. 5
Confidential Key Figures From Listing to 30 September 2008 30 September 08 At Listing* Change Summary of Net Asset Value (in millions except per share data) Estimated Net Asset Value of Investments $838.2 $754.8 $83.4 Cash and Cash Equivalents 24.0 75.2 (51.2) Net Other Assets (Liabilities) (45.3) 0.0 (45.3) Estimated Net Asset Value of HVPE $816.9 $830.0 ($13.1) Ordinary Shares Outstanding 83.0 83.0 -- Estimated Net Asset Value per Share $9.84 $10.00 ($0.16) Summary of Commitments Estimated Net Asset Value of Investments $838.2 $754.8 $83.4 Unfunded Commitments 723.8 668.5 55.3 Total Investments + Unfunded Commitments $1,562.0 $1,423.3 $138.7 % Invested (relative to HVPE NAV) 103% 91% 12% % Committed (relative to HVPE NAV) 191% 171% 20% Note: * Unconditional listing on 11 December 2007. Initial purchase based on 30 June 2007 NAV of the relevant HarbourVest fund interests, adjusted for contributions and distributions prior to listing. 6
Confidential Key Figures From Listing to 30 September 2008 30 September 08 At Listing* Change Summary of Net Asset Value (in millions except per share data) Estimated Net Asset Value of Investments $838.2 $754.8 $83.4 Cash and Cash Equivalents 24.0 75.2 (51.2) Net Other Assets (Liabilities) (45.3) 0.0 (45.3) Unfunded Commitments Estimated Net Asset Value of HVPE $816.9 $830.0 ($13.1) Ordinary Shares Outstanding 83.0 83.0 -- $281 million Estimated Net Asset Value per Share $9.84 $10.00 ($0.16) unfunded and uncommitted to underlying partnerships* Summary of Commitments Estimated Net Asset Value of Investments $838.2 $754.8 $83.4 Unfunded Commitments 723.8 668.5 55.3 $443 million Total Investments + Unfunded Commitments $1,562.0 $1,423.3 $138.7 unfunded, but committed to underlying partnerships % Invested (relative to HVPE NAV) 103% 91% 12% % Committed (relative to HVPE NAV) 191% 171% 20% 157% committed to underlying partnerships only Note: * Unconditional listing on 11 December 2007. Initial purchase based on 30 June 2007 NAV of the relevant HarbourVest fund interests, adjusted for contributions and distributions prior to listing. 7
Recommend
More recommend
