Statement re Harbourvest Acquisition of Absolut...

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART TO US PERSONS OR IN, INTO OR WITHIN THE UNITED STATES (INCLUDING ITS
TERRITORIES AND POSSESSIONS), CANADA, AUSTRALIA OR JAPAN OR ANY OTHER
JURISDICTION IN WHICH ITS RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES OR THE
SOLICITATION OF AN OFFER TO ACQUIRE SECURITIES IN THE UNITED STATES, CANADA,
AUSTRALIA OR JAPAN OR IN ANY OTHER SUCH JURISDICTION.


7 June 2011

                          HARBOURVEST ACQUISITION GMBH
                PUBLISHES OFFER PROSPECTUS FOR ALL BEARER SHARES
                         OF ABSOLUTE PRIVATE EQUITY LTD


  * Offer price is $17.25 PER ABSOLUTE SHARE, which VALUES ABSOLUTE AT
    $752 million
  * INITIAL OFFER PERIOD EXPECTED TO START ON 23 jUNE 2011 AND TO END ON 20 JULY
    2011
  * Absolute's Board of Directors CONCLUDES THAT THE OFFER PRICE IS ATTRACTIVE
    AND recommends THAT Absolute's shareholders accept the offer
  * OFFER PRICE IS 34% PREMIUM TO AVERAGE PRICE OF LAST TWELVE MONTHS AND 6%
    PREMIUM TO THE 60 DAY VOLUME-WEIGHTED AVERAGE PRICE


HarbourVest Partners, LLC ("HarbourVest"), a leading global private equity firm,
and  HarbourVest Global Private Equity Limited ("HVPE"), a closed-end investment
company,  announce the publication of the offer prospectus (the "Prospectus") in
respect of the public tender offer (the "Offer") by HarbourVest Acquisition GmbH
("HarbourVest Acquisition") for all bearer shares of Absolute Private Equity Ltd
("Absolute") currently in circulation. Absolute is an investment company located
in  Zug,  Switzerland  and  listed  on  SIX  Swiss Exchange ("SIX"). HarbourVest
Acquisition  is a special  purpose vehicle which  is to be  held by HarbourVest-
managed secondary funds, together with HVPE.

As  previously announced  on 26 April  2011, the Offer  price is $17.25 cash per
Absolute  share (the "Offer Price") and is subject to a minimum acceptance level
of  50.01% and  other  customary  conditions.  At  a  100% acceptance level, the
transaction  values  Absolute  at  $752 million.  Absolute's  Board of Directors
supports  the Offer, and in its formal  report concludes that the Offer Price is
attractive and recommends that Absolute's shareholders accept the Offer.

A cooling-off period of ten SIX trading days (the "Cooling-off Period") will run
from  8 June 2011 up  to and  including 22 June  2011. The Offer may be accepted
only  after the expiration of the  Cooling-off Period. If the Cooling-off Period
is  not extended by the Swiss Takeover Board, the initial offer period of 20 SIX
trading  days is expected to  start on 23 June 2011 and  to end on 20 July 2011
(the  "Initial Offer  Period"). Acceptances  of the  Offer should be received no
later  than 4.00pm (CEST)  on 20 July  2011. The Initial  Offer Period  could be
extended  one  or  several  times.  For  further  details on the timing, see the
indicative timetable for the Offer below.

The Offer Price represents:
  * a 34% premium to the average price per share over the last twelve months;
  * a 13% premium to the average price per share over the last six months; and
  * a 6% premium to the 60-day volume-weighted average price,

(all averages are calculated as per 21 April 2011, the last trading day prior to
the publication of the pre-announcement of the Offer).

As detailed in the report of the board of directors contained in the Prospectus,
the  board of Absolute  (the "Board") is  "convinced that the  [Offer] is in the
best  interest of Absolute and its shareholders." In particular, the Board cites
that   the   attractive   Offer   Price  was  the  highest  bid  obtained  in  a
professionally-managed  auction  process.  The  Board's  report  also notes that
liquidity   may   be  substantially  limited  after  settlement  of  the  Offer.
Furthermore,  if the  Offer is  not successful,  the Board  believes the current
share price is likely to come under pressure.

"We  have received considerable interest from shareholders wishing to sell their
shares  and  this  transaction  offers  them  an  opportunity  to  realize their
investment  for cash at  an attractive price,"  says Thomas Amstutz, Chairman of
Absolute.

HarbourVest  Acquisition's ultimate intention  is to secure  control of Absolute
with  a  view  to  initially  continuing  the  existing  investment  realization
strategy,  which was implemented by the Board  of Absolute in late 2008, when it
decided  not to make  new commitments to  private equity investments. Subject to
the  outcome of  the Offer  and regulatory  issues, HarbourVest Acquisition will
seek to operate Absolute as a privately-held entity. Following settlement of the
Offer,  HarbourVest Acquisition intends  to have the  Board be composed of three
members,  one of  whom shall  be Thomas  Amstutz and  two of whom, including the
chairman  of the Board, shall be designated  by the group of entities ultimately
managed and controlled by HarbourVest (the "HarbourVest Group").

"HarbourVest  believes this  will be  a mutually  beneficial transaction for our
funds  and  Absolute  shareholders"  said  John  Toomey,  Managing  Director  of
HarbourVest.  "We look forward to working with Absolute in order to affect a de-
listing  of  the  company  while  continuing the existing investment realization
strategy."

The  transaction is expected to  be completed in the  third quarter of 2011. The
HarbourVest  Group has been  advised by Debevoise  & Plimpton LLP and Pestalozzi
Attorneys at Law Ltd.

The prospectus is available at www.hvgpe.com/absolutetender

Indicative Timetable

+-------------------------+----------------------------------------------------+
|8 June 2011              |Start of Cooling-off Period                         |
+-------------------------+----------------------------------------------------+
|22 June 2011             |End of Cooling-off Period*                          |
+-------------------------+----------------------------------------------------+
|23 June 2011             |Start of Initial Offer Period*                      |
+-------------------------+----------------------------------------------------+
|20 July 2011, 4 pm CEST  |End of Initial Offer Period*                        |
+-------------------------+----------------------------------------------------+
|21 July 2011             |Publication  of the  Preliminary Interim  Results of|
|                         |the Offer (in the electronic media)*                |
+-------------------------+----------------------------------------------------+
|26 July 2011             |Publication of the Definitive Interim Results of the|
|                         |Offer (in the print media)*                         |
+-------------------------+----------------------------------------------------+
|27 July 2011             |Start of the Additional Offer Period*               |
+-------------------------+----------------------------------------------------+
|10 August 2011, 4 pm CEST|End of the Additional Offer Period*                 |
+-------------------------+----------------------------------------------------+
|11 August 2011           |Publication  of the  Preliminary End  Results of the|
|                         |Offer (in the electronic media)*                    |
+-------------------------+----------------------------------------------------+
|16 August 2011           |Publication  of  the  Definitive  End Results of the|
|                         |Offer (in the print media)*                         |
+-------------------------+----------------------------------------------------+
|24 August 2011           |Latest Date for Settlement of the Offer*            |
+-------------------------+----------------------------------------------------+

*  In case of  an extension of  the Cooling-off Period  and/or the Initial Offer
Period, the timetable shall be adapted accordingly.






Enquiries:

 Fishburn Hedges

 Michelle James/Alastair Fairbrother   Tel: [phone]
                                       [e-mail]



 Farner Consulting AG

 Urs Knapp/Maurus Staubli              Tel.: [phone]
                                       [e-mail]



 HarbourVest / HVPE

 Laura Thaxter                         Tel.: [phone]




Notes to Editors:

About HarbourVest Partners, LLC:
HarbourVest  Partners, LLC  is an  independent global  private equity  firm that
invests  in venture capital, buyout, mezzanine debt, and distressed debt through
primary  partnerships, secondary purchases, and direct investments. Since 1986,
HarbourVest  has  been  a  leading  buyer  of  private  equity assets, acquiring
$8 billion  of  assets  in  over  350 deals  of all stages, types, vintages, and
geographies   and  working  with  all  types  of  sellers,  including  financial
institutions,  corporations, pension plans, government entities, endowments, and
family offices. This flexibility enables HarbourVest to offer sellers of private
equity  comprehensive  liquidity  solutions.  Over  the  years,  more  than 300
institutional  investors throughout the U.S., Canada, Europe, Latin America, and
Asia  have  committed  over  $30 billion  to  funds  managed  by HarbourVest. It
currently  has 236 employees  in its  Boston office  and London,  Hong Kong, and
Tokyo subsidiaries.


About HarbourVest Global Private Equity Limited:
HarbourVest  Global Private  Equity Limited  ("HVPE") is a Guernsey-incorporated
closed-end  investment company which has a dual listing on both the London Stock
Exchange and Euronext Amsterdam. HVPE is registered as an investment institution
with  the Netherlands Authority  for the Financial  Markets. HVPE is designed to
offer  shareholders  long-term  capital  appreciation  by investing in a private
equity  portfolio diversified by  geography, by stage  of investment, by vintage
year,  and by  industry. It  invests in  and alongside HarbourVest-managed funds
which  focus  on  primary  partnership  commitments,  secondary investments, and
direct  investments  in  operating  companies.  HVPE  is  advised by HarbourVest
Advisers L.P., an affiliate of HarbourVest.


This  announcement is for  information purposes only  and does not constitute or
form  part of any  offer to issue  or sell, or  the solicitation of  an offer to
acquire,  purchase  or  subscribe  for,  any  securities in any jurisdiction. In
particular,  this announcement does not constitute or  form part of any offer to
issue or sell, or the solicitation of an offer to acquire, purchase or subscribe
for,  any  securities  in  the  United  States  of  America, its territories and
possessions,  any state  of the  United States  of America  and the  District of
Columbia  (the "United  States") or  to US  Persons (as  defined in Regulation S
under  the US Securities  Act of 1933, as  amended ("US Persons")). Neither this
announcement   nor  any  copy  of  it  may  be  taken,  released,  published  or
distributed,  directly or  indirectly to  US Persons  or in  or into  the United
States,  Canada, Australia or Japan, or any jurisdiction where such action would
be unlawful.

General

The  Offer  will  not  be  made,  directly  or  indirectly,  in  any  country or
jurisdiction  (each,  a  "Restricted  Territory")  in  which  the Offer would be
illegal  or would  otherwise violate  any applicable  law or ordinance, or which
would  require HarbourVest Acquisition GmbH (the  "Offeror") to change the terms
or conditions of the Offer in any way, to submit any additional filing to, or to
perform  any additional action  in relation to,  any governmental, regulatory or
legal  authority.  It  is  not  intended  to  extend the Offer to any Restricted
Territory. Documents relating to the Offer must not be distributed in or sent to
any Restricted Territory. Any such documents must not be used for the purpose of
soliciting  the sale or purchase of securities  by any person or entity resident
or  incorporated in any  Restricted Territory. The  Offer has not yet commenced.
Once  the Offer commences, if at all,  Absolute will provide to its shareholders
documents  relating to  the Offer  in accordance  with applicable law, except to
shareholders resident in any Restricted Territory.

United States

The Offer will not be made directly or indirectly in, into or by use of the mail
of,  or by any means or instrumentality of interstate or foreign commerce of, or
any  facilities of a national securities exchange  of, the United States and may
only  be accepted outside the  United States. This includes,  but is not limited
to, facsimile transmission, telex or telephone or electronic transmission by way
of  the internet or otherwise. This press  release, the Prospectus and any other
offering  materials with respect to the Offer must not be distributed in or sent
to the United States and must not be used for the purpose of soliciting the sale
or  purchase of  any securities  of Absolute  from anyone  in the United States.
Offeror  is not soliciting the tender of securities of Absolute by any holder of
such  securities in the United States.  Absolute securities will not be accepted
from  holders  of  such  securities  in  the  United  States,  including agents,
fiduciaries  or  other  intermediaries  acting  on a non-discretionary basis for
holders  giving  instructions  from  within  the  United  States.  Any purported
acceptance  of the Offer that Offeror or its  agents believe has been made in or
from  the United States will be invalidated. Offeror reserves the absolute right
to  reject any and all acceptances determined by it not to be in the proper form
or the acceptance of which may be unlawful.

United Kingdom

This  press release is not an invitation nor  is it intended to be an inducement
to  engage  in  investment  activity  for  the  purposes  of the restrictions on
financial  promotion set out in Section 21 of the Financial Services and Markets
Act  2000 of the  United Kingdom  (the "FSMA").  To the  extent that  this press
release  does constitute an inducement to  engage in any investment activity, it
is  directed  only  at:  (i)  persons  who  are outside the United Kingdom, (ii)
persons  who are investment professionals within the meaning of Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as
amended)  of the United Kingdom (the "Financial Promotion Order"); (iii) persons
who   fall   within   Articles  49(2)(a) to  (d)  ("high  net  worth  companies,
unincorporated  associations etc.") and Article 43(2) of the Financial Promotion
Order;  and (iv) any  other persons to  whom this press  release can lawfully be
communicated without breaching the prohibition on financial promotion in Section
21 of  FSMA or any  other relevant legislation  (all such persons together being
referred  to as "relevant persons"). This press  release must not be acted on or
relied upon by persons other than relevant persons. Any invitation or inducement
to  engage  in  any  investment  activity  included within this press release is
available  only to relevant  persons and will  be engaged in  only with relevant
persons.  Anyone  other  than  a  relevant  person  must  not rely on this press
release.

HVPE is registered with the Netherlands Authority for the Financial Markets as a
collective  investment scheme which may  offer participations in The Netherlands
pursuant  to article 2:66 of  the Financial Markets  Supervision Act (Wet op het
financieel  toezicht). All investments are subject  to risk. Past performance is
no guarantee of future returns. Prospective investors are advised to seek expert
legal, financial, tax and other professional advice before making any investment
decision.  The value of investments may  fluctuate. Results achieved in the past
are no guarantee of future results.

This  announcement is issued  by HarbourVest and  HVPE, which is registered with
the Netherlands Authority for the Financial Markets and whose registered address
is at Anson Place, Mill Court, La Charroterie, St Peter Port, Guernsey GY1 1EJ.

©  2011 HarbourVest Partners, LLC and HarbourVest Global Private Equity Limited.
All rights reserved.







This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: HarbourVest Global Private Equity Limited via Thomson Reuters ONE

[HUG#1521605]