Monthly NAV Reporting

NEWS RELEASE

Zug, October 9, 2023

Net Asset Value as of September 30, 2023

As of September 30, 2023, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 153.93 (CHF 148.90), representing an increase of 0.9% in EUR (1.8% in CHF) since August 31, 2023.

PEH’s performance in September was largely driven by favourable FX movements as well as certain positive valuation adjustments including Insight Venture Partners XII Buyout Annex, a fund that targets growth-stage software, software-enabled services and internet companies globally. In contrast, listed positions in the underlying portfolio had a negative impact.

The portfolio was cash-flow positive with total distributions amounting to EUR 3.9m vs. EUR 2.6m paid into the portfolio. PEH received a noteworthy distribution from Alpha CEE Opportunity IV, distributing capital from various transactions, including proceeds from a recapitalisation of AAT, a Polish distributor of security products and systems. Furthermore, Avista IV distributed proceeds from its investment in Cosette, a generic pharmaceutical company that specialises in the areas of dermatology and allergy, and from its sale of Braeburn, a company that develops long-acting medicines for treating opioid addiction.

Notable capital calls were received, e.g., from Abry Partners IX, to fund the acquisition of Propark, a leading provider of outsourced, tech-enabled services to the parking sector, as well as from Sycamore III, to fund a follow-on investment in Pure Fishing, a multi-brand global provider of fishing tackle, lures and rods. 

PEH will publish its semi-annual report on November 7, 2023.

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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 2,495,281 as of September 30, 2023 (August 31, 2023: 2,498,742). 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.