Wednesday, 29 July 2015
Last updated 16 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…