The buyout-focused portfolio, sold at a 6% blended discount to NAV, will generate $300 million in net proceeds.
We dive into the June performance, portfolio composition, and other details of the FTSE 250-listed fund, which targets investments through primaries, secondaries, and co-investments.
The oversubscribed vehicle for Ireland-based H&MV Engineering values the power infrastructure specialist at €1.4 billion, marking a 12x increase since Exponent's initial 2022 investment.
Potential backers reportedly sought a lower valuation for the loans held in the continuation fund.
The vehicle will acquire New Zealand's largest egg supplier from the firm's 2013-vintage LBO fund, Navis Asia Fund VII.
At least 80% of net proceeds from the transaction will be directed toward a share buyback program aimed at generating liquidity and NAV accretion.
In parallel, the firm's stakes in industrial gas supplier AirFirst will reportedly move into the open-ended fund via a continuation fund structure.
HarbourVest Global Private Equity allocated 29% of its investments to secondaries as of February.
Institutional Link maps the fair value, cost, acquisition timeline, and more details for perpetual capital's most invested-in Q4 continuation fund.
Institutional Link dives into the January performance, investments, and portfolio makeup of the FTSE 250-listed fund.
