Private equity firm HarbourVest Global reported that its net asset value (NAV) per share increased 18 cents to $12.95 in August.
In the six month period to end-July, the firm’s NAV climbed 49 cents, which it said reflected increases for privately-held securities as the entire portfolio was revalued to reflect final 30 June 2013 results.
The increase was partially offset by currency movement and operating expenses, said HarbourVest.
In August, HarbourVest invested $9.4m in US and international fund of funds and a direct fund. The firm received realizations of $14.5m last month, resulting in positive cash flows of $5.1m and making it $50m cash flow positive during the first seven months of the financial year.
HarbourVest had $130.8m of outstanding debt at the end of August, an increase of $700,000 from a month earlier.
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