HARBOURVEST GLOBAL PRIVATE EQUITY LTD. HarbourVest Global Private Equity Limited (HVPE or the Company) managed by HarbourVest Partners, announced an update on its $800 million multi-currency credit facility (the "Facility"). Since January 2019 the Facility has featured an evergreen term, with lenders bound by a rolling minimum notice period of five years. Following the formal receipt of notices, the Facility will now revert to a conventional fixed-term arrangement.
The $400 million commitment from main lender Credit Suisse AG London Branch, and the $300 million commitment from Mitsubishi UFJ Trust Banking Corporation, acting through its New York Branch, will expire on 12 January 2028. As previously disclosed, the remaining $100 million from The Guardians of New Zealand Superannuation will expire on 15 August 2027. The Facility is currently undrawn and, as reported on 20 January 2023, HVPE held cash and cash equivalents of $205 million at 31 December 2022.
