HarbourVest Global Private Equity secures extended credit line to support distribution pool

Size increase from $800m to $1.2bn

HarbourVest Global Private Equity (HVPE) has secured a new and extended revolving credit facility from funds managed by Ares Management and Apollo.

In a stock exchange notice today (6 June), the FTSE 250 investment trust said the credit line will increase from $800m to $1.2bn, offering more working capital headroom and enhancing flexibility in capital allocation decisions. The move restores the credit facility to a size equivalent to approximately 30% of NAV, which the board said is comparable to 2015-2019 levels. According to data from the Association of Investment Companies, HVPE's NAV sits at around £3.1bn, or $3.9bn. HarbourVest Global Private Equity establishes distribution pool to manage future buybacks HVPE said the fac...