HarbourVest Partners Buys Conversus Capital Portfolio For $1.4B #MariettaCauchi @Reuters #bennyquetell @resilient_ent #PrivateEquity

HarbourVest Partners on Monday said it has bought rival listed private equity company Conversus Capital L.P.'s (CCAP.AE) portfolio of private equity investments for $1.4 billion, or $22.11 per Conversus share as at April 30, highlighting the consolidation taking place in the listed private equity sector.

HarbourVest is making the acquisition jointly with its listed affiliate, HarbourVest Global Private Equity Ltd. (HVPE.AE). Conversus is retaining its public security investments and cash. "We are buying a very attractive portfolio with mature, cash-generative assets of a very high quality," John Toomey, managing director of HarbourVest Partners, told Dow Jones Newswires. "The investments are all in top-end funds including Blackstone Group (BX), Carlyle Group (CG) and Apax Partners."  

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