Net Asset Value as of February 28, 2019
NEWS RELEASE
Zug, March 8, 2019
Net Asset Value as of February 28, 2019
The Net Asset Value of one registered share of Private Equity Holding AG stood at EUR 83.91 (CHF 95.28) as of February 28, 2019. This represents an increase of 1.4% in EUR and 1.1% in CHF, respectively, since January 31, 2019.
The increase results from positive valuation adjustments for venture capital funds Evolution Technology and Highland Europe I and II, listed position Enanta Pharmaceuticals and supportive FX movements.
Noteworthy distributions came from Institutional Venture Partners XIII from the sale of Mindbody, Inc., a cloud-based business management software for the wellness services industry, and Warburg Pincus X from the IPO of Antero Resources, an independent oil and natural gas company.
PEH committed USD 8.6 million to ABRY Partners IX, a fund focusing on mid-market buyouts in North American media companies. PEH has been an investor in the ABRY family of funds for many years and this commitment marks a further continuation of this successful relationship.
Private Equity Holding is intensifying its investor relations activities with group and individual presentations in several Swiss cities over the next few months. Interested parties may contact info@peh.ch.
The enclosed monthly newsletter shows the development of the NAV, the share price as well as certain balance sheet data and portfolio key figures.
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Private Equity Holding AG (SIX: PEHN) offers investors the opportunity to invest, within a simple legal and tax optimized structure, in a broadly diversified and professionally managed private equity portfolio.
For further information, please contact:
Anna Knaub, Investor Relations, anna.knaub@peh.ch, phone +41 41 726 79 80, http://www.peh.ch
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 2,606,071 as of February 28, 2019 (January 31, 2019: 2,606,071). 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.