Private Equity Holding AG: Net Asset Value as of August 31, 2022
Private Equity Holding AG
/ Key word(s): Net Asset Value
Zug, September 8, 2022
Net Asset Value as of August 31, 2022
As of August 31, 2022, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 159.02 (CHF 155.87), representing an increase of 0.7% in EUR (1.7% in CHF) since July 31, 2022.
PEH's portfolio performance was positive in August and supported by favourable FX movements. Notable valuation adjustments were recorded for PEH's fund investments in Eagletree IV, Pelion VI and Highland Europe II as well as PEH's direct co-investment in Guala Closures, a market leader in the production of aluminium and “non-refillable” closures.
The portfolio was cash-flow negative with total distributions amounting to EUR 2.0m vs. EUR 2.6m paid into the portfolio. PEH received noteworthy distributions from Investindustrial VI distributing proceeds from the fund's exit of Neolith, a pioneer in the technical sintered stone sector, as well as from Abry Senior Equity V distributing proceeds from the sale of Benefit Recovery Group, a leading tech-enabled payor services provider, offering subrogation and compensation recovery services. In addition, Evolution Technology II distributed proceeds from the sale of Unbound, a digital asset protection company.
In the reporting period the cancellation of 200,000 registered shares, which was approved by the shareholders at the Annual General Meeting on June 2, 2022, has been registered by the commercial register on August 26, 2022 and the exchange adjustment was made on September 6, 2022. The listed share capital of the company consists of 2,550,000 registered shares with a par value of CHF 6 each.
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 2,503,986 as of August 31, 2022 (July 31, 2022: 2,504,056). 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 Aug 2022
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|End of News||EQS News Service|