Private Equity Holding AG: Net Asset Value as of September 30, 2022
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Private Equity Holding AG / Key word(s): Half Year Results NEWS RELEASE Zug, October 10, 2022 Net Asset Value as of September 30, 2022 As of September 30, 2022, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 156.58 (CHF 150.53), representing a negative change of -1.5% in EUR (-3.4% in CHF) since August 31, 2022. For the month of September, the portfolio performance was negative. Favourable FX movements could not compensate the negative valuation adjustments that were recorded for several portfolio funds and direct co-investments as well as for listed positions mainly in respect of listed technology shares held by funds. The valuation adjustments of the direct co-investments are in line with the respective public market comparables. The portfolio was cash-flow positive on a low level with total distributions amounting to EUR 2.5m vs. EUR 1.9m paid into the portfolio. PEH received noteworthy distributions from Sycamore Partners from its investments in LOFT, an American women's retail fashion brand, and Lane Bryant, an American women's apparel retailer focusing on plus-size clothing, as well as from Medicxi III, distributing proceeds from the sale of a clinical-stage U.K.-based biotechnology company focusing on immunotherapies. In addition, Warburg Pincus distributed proceeds from various transactions, with the majority from the sale of Reorg Research, a global provider of credit intelligence and analytics, and Foundation Risk Partners, one of the fastest growing insurance brokerage and consulting firms in the United States. *** 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 2,505,656 as of September 30, 2022 (August 31, 2022: 2,503,986). 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. Contact: Additional features: File: PEH NAV Flyer September 2022 End of Inside Information
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