HarbourVest Senior Loans Europe Ltd Change of Adviser (8612H)
23 Maio 2014 - 3:01AM
UK Regulatory
TIDMHSLE
RNS Number : 8612H
HarbourVest Senior Loans Europe Ltd
23 May 2014
HarbourVest Senior Loans Europe Limited
Registered Office: Sarnia House, Le Truchot, St Peter Port,
Guernsey GY1 4NA
Registered Number: 51719
Tel +44 (0)1481 737 600
Fax +44 (0)1481 749 829
www.hvsle.com
SPIRE PARTNERS LLP APPOINTED INVESTMENT MANAGER OF HARBOURVEST
SENIOR LOANS EUROPE LIMITED
23 May 2014
HarbourVest Senior Loans Europe Limited ("HSLE" or the
"Company") announces the appointment of Spire Partners LLP
("Spire"), an independent asset management firm focused on European
non-investment grade credit, as its investment manager in place of
HarbourVest Senior Loan Advisers L.P ("HarbourVest").
Spire has been acting as sub investment adviser since 28
February 2014 and will become the investment manager with immediate
effect. The Company's previous investment management agreement with
HarbourVest has now been terminated.
In addition, as the Company continues to address its cost base,
the Board has decided to replace BNP Paribas Fund Services
(Guernsey) Limited ("BNP") as administrator, and company secretary
with Praxis Fund Services Limited ("Praxis"). The Praxis Group is
one of the largest independently owned financial services groups
based in the Channel Islands. The Board has further resolved that
there is no current requirement for a custodian. Therefore, BNP
Paribas Securities Services S.C.A. will cease to act as custodian
for the Company. Praxis will provide safe keeping services for any
documents of title relating to the loans.
Colin Maltby, Chairman of HSLE, said: "We would like to thank
HarbourVest and BNP for their involvement in the Company to date,
and are looking forward to working with Spire Partners during this
next phase of HSLE's evolution."
A meeting of the Company's shareholders will be convened in due
course at which a resolution to change the name of the Company to
remove the reference to HarbourVest will be put forward.
Enquiries:
HSLE
Company Secretary 01481 737 600/ nicole.barnes@praxisgroup.com
Spire Partners
Jonathan Russell 020 7042 6300 / enquiries@SpireLLP.com
HarbourVest
Stuart Howard 020 7399 9815 / showard@harbourvest.com
Liberum
Chris Bowman 020 3100 2000 / chris.bowman@liberum.com
Notes to Editors:
About Spire Partners LLP:
Established in 2012, Spire Partners LLP is an independent asset
management firm focused on European non-investment grade
credit.
Spire was founded by seasoned leverage finance and private
equity investment professionals, who previously worked together
managing a variety of fund types including credit opportunities,
collateralised loan obligations ("CLOs"), managed accounts and
private equity funds. The team has a track record of consistently
delivering superior risk adjusted returns.
Spire currently has a sub-advisory arrangement with the UK
affiliate of a US multi-strategy institutional investor to invest
in European non-investment grade credit, and has been acting as sub
investment adviser on the HarbourVest Senior Loans Europe vehicle
since February 2014.
Spire is authorised and regulated in the United Kingdom by the
Financial Conduct Authority.
To learn more about Spire Partners, please visit
www.SpireLLP.com
About HarbourVest Senior Loans Europe Limited:
HarbourVest Senior Loans Europe Limited is a
Guernsey-incorporated company listed on the main market of the
London Stock Exchange.
The Company's investment objective is to provide shareholders
with a combination of a high level of income and capital growth
over time, whilst preserving capital. The investment period of HSLE
has now concluded and the Company has invested in accordance with
its original investment policy and objective in senior secured
loans of private equity-backed European mid-market companies.
The Company is registered as a closed-ended investment scheme in
accordance with the Protection of Investors (Bailiwick of Guernsey)
Law, 1987, as amended and the Registered Collective Investment
Scheme Rules 2008 issued by the Guernsey Financial Services
Commission (the "Commission"). The Company is regulated by the
Commission and is not regulated or authorised by the Financial
Conduct Authority, but is subject to the Listing Rules applicable
to closed-ended investment companies.
To learn more about HSLE, please visit www.hvsle.com
This announcement is issued by the Company, whose registered
address is at Sarnia House, Le Truchot, St Peter Port, Guernsey,
GY1 4NA, Channel Islands.
(c) 2014 HarbourVest Senior Loans Europe Limited. All rights
reserved.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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