Friday, 24 October 2014
Last updated 18 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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