Private Equity Holding AG Reports Positive NAV Growth for March 2024

Private Equity Holding AG (PEH) announced a notable increase in its Net Asset Value (NAV) per share as of March 31, 2024. The NAV per share reached EUR 159.75 (CHF 155.75), marking a rise of +3.2% in EUR (+5.3% in CHF) from February 29, 2024, and a total growth of 6.0% for the financial year 2023/2024. This includes dividends. The performance boost is attributable to valuation adjustments in several direct co-investments, including tech and banking sectors.

Among the highlights causing this uplift were positive adjustments in the value of investments such as Earnix, a provider in artificial intelligence software; Shawbrook Bank, a UK retail banking firm; and Lignetics, a manufacturer and distributor based in the US. The performance was further enhanced by increases in the valuations of various funds, including Pollen Street III and IV and Alpha CEE Opportunity IV. Notable distributions were received, particularly from Alpha CEE Opportunity IV, which benefited from the public offering of Kaspi, a Kazakhstani fintech firm.

The company faced a cash-flow negative situation in March, with total distributions amounting to EUR 2.0m against EUR 3.2m in investments. However, significant distributions were still noted, including from the sale of Talon Cyber Security. PEH has declared it will release its annual report for the year 2023/24 on May 7, 2024, and the Annual General Meeting (AGM) is scheduled for June 3, 2024, in Zug.