Monthly NAV Reporting

NEWS RELEASE

Zug, February 8, 2024

Net Asset Value as of January 31, 2024

As of January 31, 2024, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 153.60 (CHF 143.26), representing a change of +0.9% in EUR (+1.1% in CHF) since December 31, 2023.

PEH's portfolio performance was positive in January. While there were positive valuation adjustments recorded for several portfolio funds, such as the Europe-based Blossom I and US-based Pelion VI, both of which focus on making early-stage venture investments in the technology sector, the positive portfolio performance was mainly driven by favourable FX movements. 

The portfolio was cash-flow negative in January with total distributions amounting to EUR 1.7m vs. EUR 2.8m paid into the portfolio. PEH received noteworthy distributions from Avista IV, distributing proceeds from the sale of United BioSource (UBC), a biopharmaceutical services provider, as well as from Clarus IV, distributing proceeds from two transactions, namely SFJ Pharmaceuticals and Talaris Therapeutics, both bio-pharmaceutical development companies.

The biggest drawdown came from Sycamore III to fund two transactions, namely an add-on investment in Pure Fishing, a multi-brand global provider of fishing tackle, lures and rods, and Chicos FAS, a leading retailer in women’s apparel.

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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 2,468,262 as of January 31, 2024 (December 31, 2023: 2,468,262). 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.