HarbourVest To Buy Conversus Private Equity Portfolio

Jul 6 2012 | 11:37am ET

HarbourVest Partners is adding Conversus Capital's portfolio of third-party private equity funds in a deal worth $1.4 billion.

HarbourVest and its HarbourVest Global Private Equity Limited have agreed to buy the entities that hold Conversus' assets. After the acquisition closes, Conversus, based in the Channel Islands, will name a liquidator to close itself down.

HVPE will use a $500 million credit facility to pay for its part of Conversus' portfolio, about $126 million. Up to 49.9% of Conversus shareholders will have the option to continue their investment in the Conversus portfolio; clients who choose to do so will get shares of HarbourVest Structured Solutions.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note