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Private Equity company HarbourVest Global Private Equity reported a rise in net asset value in the first half of the year, driven by valuation increases and 'strong' exit activity across the portfolio.
For the six-months ended 31 July 2021, net asset value per share was 22.6% over the period to $44.11, with about $294.6 million received from exits, up from $78.7 million last year.
IPO exits contributing the most to NAV per share were Roblox, Coinbase Allfunds Bank and UiPath.
M&A transactions and IPOs swelled to 319 in the period, more than two and a half times the 119 seen in the six months to 31 July 2020.
Looking ahead, the company said its NAV per share growth wasn't expected to continue at its recent pace indefinitely, and investors should 'anticipate a degree of reversion to the longer-term trend.'