Monthly NAV Reporting

NEWS RELEASE

Zug, March 11, 2024

Net Asset Value as of February 29, 2024

As of February 29, 2024, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 154.76 (CHF 147.69), representing a change of +0.8% in EUR (+3.1% in CHF) since January 31, 2024.

PEH's portfolio performance was positive in February. Notable valuation adjustments were recorded for several portfolio funds including Procuritas VII and Alpha CEE Opportunity IV, which benefitted from share price increases of listed underlying investments, e.g., Kaspi, a Kazakhstani fintech firm, as well as for PEH's direct co-investment in Guala Closures, a market leader in the production of aluminium and non-refillable closures.  PEH's direct co-investment in dss+, a health, safety and environmental consulting company, also recorded a positive valuation adjustment.

The portfolio was cash flow negative with total distributions amounting to EUR 0.7m vs. EUR 1.9m paid into the portfolio. PEH received distributions from Eagletree III, distributing proceeds from its investment in ALM Media, an integrated media company and a leading provider of specialised business news, as well as from TA Associates XIII, distributing proceeds from three transactions, namely Benecon, a medical benefit program administrator, InCorp, a provider of corporate services for companies planning to establish a presence in Asia, and National Stock Exchange of India, one of the leading stock exchanges in India. 

The biggest capital call came from TA Associates XIV to fund both, new as well as add-on investments.

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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 February 29, 2024 (January 31, 2024: 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.