Ad hoc announcements pursuant to Art. 53 LR
Private Equity Holding AG: Net Asset Value as of September 30, 2021
Private Equity Holding AG / Key word(s): Monthly Figures/Half Year Results
Zug, October 8, 2021
Net Asset Value as of September 30, 2021
As of September 30, 2021, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 141.50 (CHF 152.99), representing an increase of 1.7% in EUR (1.7% in CHF) since August 31, 2021.
The monthly NAV increase is the result of (i) a stronger USD and positive valuation adjustments for (ii) several portfolio funds, including Highland Europe II, Boulder Ventures IV and Procuritas VI, and (iii) the direct Co-Investments in Acino, a Swiss pharmaceutical company, and Design Holding, a global high-end design group comprising 3 complementary brands: Flos, Louis Poulsen and B&B Italia.
The portfolio was cashflow positive with total distributions amounting to EUR 7.6m. PEH received noteworthy distributions from Avista IV from the sale of Arcadia Consumer Healthcare, a leader in the consumer healthcare market for OTC medicines, premium vitamins and nutritional supplements, and from Alpha CEE Opportunity IV, distributing proceeds from a number of liquidity events, including the sale of shares in Kaspi, a Kazakhstani fintech firm, and in Allegro, a Polish online e-commerce platform.
In the reporting period, PEH committed USD 10.0m to Abry Heritage Partners II, a North American lower mid-market buyout fund, GBP 9.0m to Pollen Street Capital IV, a lower mid-market fund focusing on financial and business services, and USD 3.0m to Evolution Technology Fund II, an early-stage global technology venture fund. Additionally, EUR 4.4m were invested via a single-asset secondary transaction in Regina Maria, a private healthcare platform in Romania and Serbia.
PEH is proud to have supported the swissloop tunneling project as a Gold Partner and congratulates the team for placing 2nd in the not-a-boring-competition in Las Vegas and winning the category "Innovation and Design".
Private Equity Holding AG (SIX: PEHN) is a listed investment company for private equity investments. It offers institutional and private investors the opportunity to participate in a simple and tax-efficient manner in a diversified and professionally managed private equity portfolio with selective fund and direct investments.
Income from the portfolio is partially reinvested, as well as passed on to the shareholders as annual distributions. Private Equity Holding's portfolio is managed by Alpha Associates, an independent Private Equity, Private Debt and Infrastructure investment manager based in Zurich.
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The basis of the Net Asset Value Calculation and Disclaimer
The number of outstanding shares used for calculation of the Net Asset Value per share amounted to 2,528,068 as of September 30, 2021 (August 31, 2021: 2,532,585). The calculations are prepared in accordance with International Financial Reporting Standards (IFRS) and pursuant to the guidelines of Invest Europe (formerly known as the European Venture Capital Association). The valuations of the fund investments are based on the most recent reported net asset values (NAVs) of the funds. In estimating the fair value of unquoted direct investments, Private Equity Holding AG considers the most appropriate market valuation techniques. The fair value of listed direct investments is the market value. The NAV of Private Equity Holding AG is calculated at the end of each month under a going concern assumption and usually published within six trading days after the cut-off date. The different reporting cut-off dates of the individual companies and funds in which participations are held can lead to short-term distortions and cause discrepancies between the published NAV and the actual total value of Private Equity Holding AG's net assets.
File: PEH NAV Flyer Sep 2021
End of ad hoc announcement
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1239578|
|End of Announcement||EQS Group News Service|