Private Equity Holding AG: Net Asset Value as of February 28, 2022
Private Equity Holding AG
/ Key word(s): Net Asset Value
Zug, March 8, 2022
Net Asset Value as of February 28, 2022
As of February 28, 2022, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 146.14 (CHF 150.88), representing a change of -1.0% in EUR (-1.9% in CHF) since January 31, 2022.
The Russian invasion of Ukraine has created serious concerns on many levels - the human cost, European security, and potential impacts on investment portfolios. While it is too early to estimate the eventual economic impact from this unprecedented assault by Russia on a European country, the value of PEH's portfolio exposure to investments in Russia and Ukraine has been adjusted downwards every month since Q3 2021 and, as of February 28, 2022, stands at 3.5% of PEH's total equity. The exposure to investments in Russia and Ukraine is being monitored closely and will be adjusted in line with market developments and PEH's valuation policy.
In February, the portfolio was cash-flow positive with total distributions amounting to EUR 20.1m. These included Pollen Street III distributing proceeds from the sale of Oplo Holdings, a consumer lender providing loans to customers across the UK, proceeds from the sale of the direct co-investment Acino, a global pharmaceutical company that provides access to high-quality medicines for patients and healthcare professionals and also from the partial sale of the direct co-investment in Renaissance Learning, a digital learning solutions provider.
In the reporting period, PEH completed three new commitments: EUR 10.0m to Procuritas Capital Investors VII, a fund targeting mid-market investments in the Nordics, USD 5.0m to Francisco Partners Agility III-A and USD 10.0m to Francisco Partners VII-A, both managed by Francisco Partners, one of the premier technology investors globally and one of the longest standing investment relationships within PEH's portfolio.
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 2,524,704 as of February 28, 2022 (January 31, 2021: 2,524,704). 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 Feb 2022
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|End of News||EQS News Service|