On 31 December 2012, Conversus announced the closing of the sale of the Conversus entities that hold Conversus' portfolio of private equity fund interests and direct co-investments to HarbourVest Structured Solutions II L.P. (“HSS”). Pursuant to the Purchase Agreement between HSS and Conversus, HSS agreed to acquire Conversus’ private equity fund interests and direct co-investments for $1,439.1 million, as adjusted for capital calls and distributions subsequent to 30 April 2012 and through 30 November 2012. Based upon capital calls of $59.4 million and distributions of $252.3 million during that period, the final adjusted purchase price as of 31 December was $1,243.8 million, or $19.11 per unit. One private equity fund, having an estimated value of $2.4 million as of 30 April, has been excluded from the sale to HSS as a right of first refusal has been exercised by a third party.
Conversus is a publicly traded limited partnership based in Guernsey. Currently in liquidation, Conversus is focused on returning its remaining capital to unit holders.