StockMarketWire.com - Private Equity company Harbourvest, reported Thursday a rise in first-half net asset value amid strong performance from direct investments.

For the six months to 31 July, net asset value per share rose 6.8% to $22.93, up from $21.46 at the January end. While the share price rose 3.8% to £13.00.

The uptick in net assets was supported by $121.5m value growth from the investment portfolio, led by growth in direct co-investment.

The 2013 direct fund was the largest single contributor to net asset value per share growth, adding $0.17, the company said.

The company invested $202.6m in private companies through HarbourVest funds, and committed $355.0m to new HarbourVest funds during the half year. 'HVPE has continued to make good progress over the six months to 31 July, delivering NAV per share growth of 6.8% in US dollars. This performance builds on the nine-consecutive full financial years of NAV per share increases delivered by the Company to its shareholders since 31 January 2009, and represents a threefold rise since this point, from $7.61 to today's published figure of $22.93, said Sir Michael Bunbury, Chairman of HVPE.

At 8:08am: [LON:HVPE] Harbourvest Global Private Equity share price was -1p at 1379p



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