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

NEWS RELEASE

Zug, August 14, 2024

Net Asset Value as of July 31, 2024

As of July 31, 2024, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 160.00 (CHF 152.38), representing a change of -0.8% in EUR (-1.8% in CHF) since June 30, 2024.

Adverse FX movements caused the slightly negative portfolio performance in the reporting month. While more than half of the fund investments in the portfolio, including TA Associates XIII, Eagletree VI and Alpha CEE Opportunity IV, recorded positive valuation adjustments, this could not compensate the negative FX development.

In July, the portfolio was cash-flow positive with total distributions amounting to EUR 2.0m vs. EUR 1.6m paid into the portfolio. PEH received noteworthy distributions from Avista IV, distributing proceeds from its investment in Cosette, a generic pharmaceutical company that specialises in the areas of dermatology and allergy. Additionally, PEH received a distribution from Sycamore Partners III, which distributed proceeds from two transactions, namely Goddard Schools, a premium early childhood education provider operated by franchisees, and LA Fitness, an American gym chain.

A notable capital call was received from Francisco Partners VII, to fund the acquisition of Macrobond, a leading provider of macroeconomic data and integrated data analysis software.

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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, https://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 July 31, 2024 (June 30, 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. 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.