HSLE Harbourvest Sl

TIDMHSLE

RNS Number : 2200B

HarbourVest Senior Loans Europe Ltd

28 February 2014

BNP Paribas House

St Julian's Avenue St Peter Port

Guernsey GY1 1WA

Channel Islands

Tel +44 (0)1481 750 850

Fax +44 (0)1481 731 799

www.hvsle.com

HARBOURVEST SENIOR LOANS EUROPE LIMITED ANNOUNCES THE APPOINTMENT OF SPIRE PARTNERS LLP AS SUB INVESTMENT ADVISER TO HARBOURVEST SENIOR LOAN ADVISERS L.P.

28 February 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 sub investment adviser to the Company's investment manager, HarbourVest Senior Loan Advisers L.P. ("HarbourVest"). Spire has been appointed with immediate effect and it is envisaged that Spire will assume the role of investment manager once final approvals are in place.

In May 2010, HarbourVest saw an opportunity to offer public market investors a yielding, capital preserving and liquid asset class. Having executed on the original strategy, HarbourVest has agreed with the Company that it is now appropriate for Spire to deliver the next phase of returns to shareholders.

Spire will be contacting the Company's major shareholders shortly to introduce themselves; and in due course will liaise with shareholders to determine whether investors would consider reopening HSLE's investment period in light of continuing attractive market opportunities. Any changes to the investment policy are subject to shareholder consent at an EGM.

Colin Maltby, Chairman of HSLE, said: "We welcome the appointment of Spire Partners, and look forward to working with their management team of Jonathan Russell, Philip Bennett-Britton and Oliver Drummond Smith. Given their strong track record, we are confident in Spire's ability to execute the Company's investment policy in a professional and efficient manner."

Jonathan Russell, Managing Partner of Spire, said: "The team at Spire is delighted to have been appointed sub investment adviser to HSLE and is committed to delivering a strategy that meets the ambition of the Board and shareholders."

Enquiries:

 
 HSLE 
  Company Secretary     01481 750 850 / sara.bourne@gg.bnpparibas.com 
 Spire Partners 
 Jonathan Russell     020 7042 6300 / enquiries@SpireLLP.com 
 
 HarbourVest 
 Stuart Howard        020 7399 9815 / showard@harbourvest.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.

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 BNP Paribas House, St. Julian's Avenue, St. Peter Port, Guernsey, GY1 1WA, 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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