Zug, May 12, 2021
Net Asset Value as of April 30, 2021
As of April 30, 2021, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 121.63 (CHF 133.62), representing a change of +0.2% in EUR (-0.4% in CHF) since March 31, 2021.
The portfolio performance in EUR was slightly positive in April despite adverse FX movements, largely due to valuation adjustments in PEH's portfolio funds including ALPHA CEE Opportunity IV and ALPHA Russia & CIS Secondary, which benefited from the share price increases of various underlying listed positions. In the case of Ozon, a fast-growing Russian online retailer, PEH benefited also through its direct co-investment.
PEH's portfolio was significantly cash flow positive with total distributions amounting to EUR 8.0m. Noteworthy distributions were received from ABRY VIII from the sale of Donuts Inc, a domain name registry company, and from Eagletree IV from its investment in Gaylord Chemical Company L.L.C., a US chemicals company. Further, Highland Europe II distributed proceeds from the sale of Adjust GmbH, an industry leader in mobile measurement and fraud prevention.
In April, PEH committed EUR 4.5m to funds managed by Gyrus Capital, continuing a highly successful investment relationship following the co-investment in Dupont Sustainable Solutions, a leader in health, safety and environmental consulting.
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, Kerstin.Stechow@peh.ch, phone +41 41 726 79 80, http://www.peh.ch
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 2,537,308 as of April 30, 2021 (March 31, 2021: 2,539,128). 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.