Private Equity Holding AG: Net Asset Value as of December 31, 2024

NEWS RELEASE

Zürich, January 14, 2025

Net Asset Value as of December 31, 2024

As of December 31, 2024, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 165.92 (CHF 155.67), representing an increase of 0.5% in EUR (1.3% in CHF) since November 30, 2024.

PEH's share price closed the year at CHF 74.40, representing a total performance of 7.7% over the first nine months of PEH’s financial year (incl. dividend distribution).

The portfolio performance was positive in December. Whilst positive valuation adjustments were recorded for several portfolio funds such as Pelion VI and Evolution Technology II, the positive portfolio performance was mainly driven by favourable FX movements. 

December was the third month in a row with positive portfolio cash-flows. This could be an important turning point and indicator of an increase in M&A activity which should be positive for the future development of PEH’s portfolio. Total distributions in December amounted to EUR 11.2m vs. EUR 6.8m paid into the portfolio. A noteworthy distribution was received from Highland Europe II resulting from two investments, namely Media Central, a European drive-to-store marketing platform and Featurespace, a developer of AI payments protection technology.

In the reporting period, PEH completed three new commitments: USD 6.0m to Frontenac XIII, a fund targeting buyout investments at the lower end of the North American mid-market, GBP 3.0m to LocalGlobe XIII, a fund targeting seed stage venture investments and EUR 2.0m to a secondary transaction in a European Growth Fund with a focus on early-stage venture capital investments within the IT sector. All three fund managers are existing relationships for PEH.

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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 Amundi 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 +41-44-515 70 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 2,466,743 as of December 31, 2024 (November 30, 2024: 2,466,833). 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. 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.