Private Equity Holding AG: Net Asset Value as of May 2022
Private Equity Holding AG
/ Key word(s): Net Asset Value
Zug, June 9, 2022
Net Asset Value as of May 31, 2022
As of May 31, 2022, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 156.28 (CHF 160.58), representing an increase of 0.3% in EUR (0.6% in CHF) since April 30, 2022.
The portfolio performance was slightly positive in May despite adverse FX movements. The NAV increase results from positive valuation adjustments for several portfolio funds, including Eagletree IV, Investindustrial VI and Pollen Street III, and the direct Co-Investment in Shawbrook Bank, a UK retail bank, and was supported by the concentration effect of purchasing 20k treasury shares.
The portfolio was cash-flow negative with total distributions amounting to a mere EUR 3.6m. PEH received noteworthy distributions from Eagletree IV, distributing proceeds from the sale of Frosch International Travel, a leading travel management company with a focus on premium travel and from Investindustrial VI from the sale of Lifebrain, one of the largest Italian clinical laboratory testing players, catering to B2C customers (individual patients) and B2B clients (hospitals or other).
In the reporting month, PEH committed EUR 7.0m to Investindustrial Growth III, a fund targeting lower mid-market buyouts and growth investments predominantly in Europe. The fund manager is an existing, longstanding and very successful investment relationship.
PEH held its Annual General Meeting on June 2, 2022, in Zug. All proposals by the Board of Directors were approved by shareholders including a dividend of CHF 2 per share, which will be paid to shareholders on June 10, 2022.
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 2,504,404 as of May 31, 2022 (April 30, 2022: 2,524,604). 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 May 2022
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|End of News||EQS News Service|