JTC has provided specialist administrative support to HarbourVest Global Private Equity (HVPE), a Guernsey-incorporated investment company, in its major move from listing on the Specialist Fund Market (SFM) to the Main Market of the London Stock Exchange.
Through its Guernsey and UK offices, JTC provided HVPE with a range of specialist company secretarial and administration services to facilitate the significant move, which now means that HVPE has achieved dual listings status by virtue of already being listed on the Euronext exchange in Amsterdam.
JTC has provided a comprehensive range of administration services to HVPE since its launch in 2007, including board and committee secretarial services, ensuring compliance with regulatory requirements in Guernsey, Netherlands and the UK, and liaison with exchange and regulatory authorities. HVPE is managed by HarbourVest Advisers, an affiliate of Boston-headquartered HarbourVest Partners, LLC a private equity firm whose history dates back to 1982 and which has committed more than $30 billion to investments.
Currently giving investors exposure to more than 700 private equity funds and partnerships, HVPE chose to move to also list on the LSE Main Market in order to tap into one of the world’s deepest pools of global capital and provide shareholders with long-term growth prospects. The Main Market of the LSE is home to some of the world's largest and best known companies.
Paul Duquemin, Group Director, JTC Guernsey commented:
‘JTC has real strength and experience in administering listed investment structures on recognised exchanges around the world, and we are delighted to have provided our specialist services to HVPE with this high profile move to the London Stock Exchange’s Main Market, which positions it alongside some of the world’s largest listed companies. As well as further building on our long-standing relationship with HVPE, this latest listing also demonstrates Guernsey’s position as the preferred domicile for non-UK companies listing on the LSE.’
Richard Hickman of HarbourVest Partners, LLC, added:
‘For any company being admitted to the Main Market of the London Stock Exchange is a real badge of honour, so this is clearly a major move for HVPE. Having worked with the team at JTC for a number of years, I am delighted that with their expert support we have achieved this position, which gives the widest possible base of investors access to our private market funds and investments. This listing positions HVPE strongly for long-term growth.”
JTC administers 30% of the Specialist Fund Market and also administers other funds and investment structures including funds listed on the London Stock Exchange Main Market, AIM, Euronext and the Channel Islands Securities Exchange (CISE). JTC is able to arrange and sponsor the listing of investment funds, debt securities and other securities on the CISE through their Guernsey and Jersey offices.