Monthly NAV Reporting

Net Asset Value as of November 30, 2020

EQS Group-News: Private Equity Holding AG / Key word(s): Monthly Figures
08.12.2020 / 18:00


Zug, December 8, 2020

Net Asset Value as of November 30, 2020

As of November 30, 2020, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 96.40 (CHF 104.36), representing an increase of 13.6% in EUR (15.2% in CHF) since October 31, 2020. This increase marks the largest monthly NAV increase of PEH since the re-start of its investment activity in 2007.

One of the key drivers of the exceptional portfolio performance in November was the IPO and subsequent share price appreciation of Ozon, a fast-growing Russian online retailer and one of the leading Russian internet companies. PEH recently co-invested USD 1.4m in Ozon and also has an indirect exposure through several fund positions. Further positive valuation adjustments were recorded for positions in recently listed companies Corsair (through EagleTree IV), Allegro (through Alpha CEE Opportunity IV and Mid Europa Fund IV) and Kaspi Bank (through Alpha CEE Opportunity IV). Additionally, most of PEH's portfolio funds reported their strong Q3 2020 performance in November, which further contributed to last month's NAV performance.

The portfolio was cash flow-positive in November with total distributions amounting to EUR 4.3m; noteworthy distributions were received from Alpha CEE Opportunity VI, ABRY VIII and EagleTree IV.


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.

For further information, please contact:
Kerstin von Stechow, Investor Relations,, phone +41 41 726 79 80,

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 2,578,642 as of November 30, 2020 (October 31, 2020: 2,584,642). 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.


Additional features:

File: PEH NAV Flyer November 2020

End of Media Release

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