Zug, September 8, 2020
Net Asset Value as of August 31, 2020
As of August 31, 2020, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH), stood at EUR 82.81 (CHF 89.23), representing an increase of 4.2% in EUR (4.3% in CHF) since July 31, 2020.
In August, PEH's portfolio performance benefitted from positive Q2/2020 valuation adjustments in its underlying funds, namely Pelion IV, Procuritas VI, Mid Europa IV and ABRY ASF III and IV, as well as in its direct co-investment Renaissance Learning.
PEH's portfolio was again cash flow positive with noteworthy distributions received from Institutional Venture Partners XII, distributing proceeds from the sale of Personal Capital Corporation, an online financial advisor and personal wealth management company, and Warburg Pincus X, distributing proceeds from various transactions, most notably the sale of the fund's remaining shares in CrowdStrike Holdings. Inc, a NASDAQ-listed cloud-delivered endpoint security platform.
PEH committed USD 1.5m within its Emerging Managers Program to Left Lane Capital I, an early stage venture fund, focusing on high-growth internet and consumer technology businesses.
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 August 31, 2020 (July 31, 2020: 2,582,902). 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.