Private Equity Holding AG: Net Asset Value as of February 28, 2023
Private Equity Holding AG
/ Key word(s): Net Asset Value
Zug, March 8, 2023
Net Asset Value as of February 28, 2023
As of February 28, 2023, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 154.32 (CHF 153.34), representing an increase of +1.9% in EUR (+1.7% in CHF) since January 31, 2023.
PEH's portfolio performance was positive in February and supported by favourable FX movements. Notable valuation adjustments were recorded for several portfolio funds including Eagletree IV, Highland Europe I and Investindustrial IV 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 0.8m vs. EUR 1.8m paid into the portfolio. PEH received noteworthy distributions from ABRY ASF III and ABRY ASF IV from their total return swap investments and from Warburg Pincus XII, distributing proceeds from several investments including Terra Energy Partners, a US-based exploration and production company formed to target long‐lived, gas‐weighted assets in established onshore basins.
Capital calls were received, i.a., from Mid Europa Fund V, to fund the acquisition of Optegra Eye Health Care, a leading European ophthalmology platform operating in Poland, Czech Republic, Slovakia and the UK, as well as from CIVC VI, to fund the investment in Industrial Networking Solutions, a US-based industry leading provider for products and technical support for wired and wireless machine networking applications.
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 2,505,606 as of February 28, 2023 (January 31, 2023: 2,505,606). 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 February 2023
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|End of News||EQS News Service|