HarbourVest to list senior secured loans fund on LSE
HarbourVest Partners has launched a new senior secured loans fund, HarbourVest Senior Loans Europe Limited, which will be admitted to the Main Market of the London Stock Exchange.
The fund plans to invest in secondary and primary European senior secured loans of European private equity-backed mid-market companies. It will be managed by HarbourVest Senior Loan Advisers L.P., an affiliate of HarbourVest Partners, LLC.
The fund plans to acquire senior secured loans issued by 20 to 30 private equity-backed, mid-market companies with an enterprise value of up to €1bn. The loans, which will benefit from first lien security over the assets of the borrower, will be purchased from motivated or distressed sellers at a discount to their par value (secondary loans) or will take the form of newly issued loans (primary loans). No investments will be made in distressed loans.
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