Net Asset Value as of May 31, 2021
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EQS Group-NAV: Private Equity Holding AG / Key word(s): Net Asset Value NEWS RELEASE Zug, June 8, 2021 Net Asset Value as of May 31, 2021 As of May 31, 2021, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 127.86 (CHF 140.53), representing an increase of 5.1% in EUR (5.2% in CHF) since April 30, 2021. The portfolio performance was positive in May despite adverse FX movements. The NAV increase results from positive valuation adjustments for a significant majority of PEH's investments, including Highland Europe II, Highland Europe I, TA XIII, Mid Europa Fund IV, and the direct co-investments in Shawbrook Bank, a UK retail bank, and Renaissance Learning, a digital learning solutions provider. The portfolio was cash-flow positive with total distributions amounting to EUR 9.4m. PEH booked noteworthy distributions from Avista IV, Highland Europe II and Clarus Lifesciences III. In May, PEH committed USD 7.0m to TA XIV, a fund targeting growth capital investments in the middle market in the US and Europe, and USD 6.0m to Abry Senior Equity VI, a fund completing senior equity investments in the media, communications, information and business services industry in North America. Both fund managers are existing relationships for PEH. PEH held its Annual General Meeting on June 2, 2021, in Zug. All proposals by the Board of Directors were approved by shareholders including a dividend of CHF 2 per share, which will be paid to shareholders on June 10, 2021. *** 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: 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 2,536,623 as of May 31, 2021 (April 30, 2021: 2,537,308). 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. End of Net Asset Value News
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