Private Equity Holding AG: Net Asset Value as of November 30, 2021
EQS-NAV: Private Equity Holding AG
/ Key word(s): Net Asset Value
Zug, December 8, 2021
Net Asset Value as of November 30, 2021
As of November 30, 2021, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 154.64 (CHF 160.81), representing a change of 8.1% in EUR (6.1% in CHF) since October 31, 2021. This marks another significant monthly NAV increase, the biggest increase in the current financial year so far.
A key driver of the exceptional portfolio performance in November were valuation adjustments of some of PEH's direct co-investments, most notably Renaissance Learning, a digital learning solutions provider. Furthermore, there were several positive valuation adjustments in the portfolio funds, i.a., Pollen Street III, Bi-Invest Endowment Fund and Boulder Ventures IV.
The portfolio was cash-flow positive with total distributions amounting to EUR 9.7m. PEH received noteworthy distributions from Investindustrial V distributing proceeds received from International Chemicals Holdings, following the full realisation of its indirect investment in the Polynt-Reichhold group, a global leader in composite materials, intermediate chemicals and niche chemical specialties, as well as from Investindustrial VI distributing proceeds from Global Healthcare Services, following the full realisation of its indirect shareholding of Lifebrain, one of the largest Italian providers of clinical laboratory testing.
In addition, Highland Europe II distributed proceeds from the sale of AppLovin, a leading marketing platform that provides developers with a holistic set of solutions to grow their mobile apps.
During the month, PEH completed a EUR 4.0m direct co-investment in Guala Closures, a market leader in the production of aluminum and "non-refillable" closures, alongside Investindustrial.
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 2,526,764 as of November 30, 2021 (October 31, 2021: 2,526,764). 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 Nov 2021
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|End of News||EQS News Service|