Fans and foes of private equity investing have had plenty to bolster their arguments in recent months. The volatility of the global stock markets used to value privately held, often-illiquid investments has had a big impact on their estimated worth, more often than not negatively. At the same time, the relatively weak ratings of UK-listed companies has led to a deal bonanza for private equity buyers — viewed by some as smart opportunists, by others as greedy predators.
Into this mix comes Harbourvest Global Private Equity, a FTSE 250 investment vehicle whose shares this column recommended buying in February last year, when they stood at £14.60. Incidentally, those who followed the call would have seen the value of their investment rise by just over