Zug, August 10, 2020
Net Asset Value as of July 31, 2020
As of July 31, 2020, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH), stood at EUR 79.44 (CHF 85.58), representing a decrease of 2.2% in EUR (1.1% in CHF) since June 30, 2020 (adjusted for the dividend of CHF 1.00, which was paid on July 8, 2020).
Overall positive valuation adjustments in the portfolio could not compensate for the adverse FX movements throughout the month. The weakening of the USD against the EUR led to EUR 5.7m in FX-adjustments.
The portfolio was cash flow positive in July. PEH received noteworthy distributions from Pelion IV relating to NYSE-listed website-security company Cloudflare and from the direct co-investment in Cloudflare. Further, Warburg Pincus X distributed proceeds from the sale of shares of NASDAQ-listed CrowdStrike, a leading next-generation cloud-delivered endpoint security platform, and Highland Europe II distributed proceeds from the sale of spot.io, a cloud infrastructure optimisation and automation platform, which was acquired by NetApp.
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:
Anna Knaub, Investor Relations, [email protected], 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 2,582,902 as of July 31, 2020 (June 30, 2020: 2,589,713). 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.