ZUG, Switzerland - Partners Group Private Equity Limited (LSE: PEY/PEYS), a global private equity investment manager, has announced a net asset value (NAV) increase of 4.4% in December, bringing the NAV per share to EUR 15.03 and total net assets to EUR 1.039 billion.
The NAV growth reflects a combination of positive value creation, which accounted for 4.6% of the increase, and favorable currency movements at 0.8%. The company also reported receiving distributions totaling EUR 21.7 million while making investments of EUR 1.3 million.
Vishal Mega Mart, a prominent Indian retailer and the second-largest portfolio company of PGPE Ltd, was a significant contributor to this growth, accounting for 2.9% of the NAV. Vishal’s initial public offering (IPO) on the National Stock Exchange and Bombay Stock Exchange on December 18, 2024, was a notable event, with shares priced at INR 78 each, resulting in a fully diluted equity value of INR 370 billion. PGPE Ltd sold about 23% of its investment in Vishal at an uplift of 36%, leading to a distribution of EUR 18.8 million.
In addition to Vishal’s performance, Galderma, a leader in dermatology, also contributed to the distributions with a sale of shares at over 50% above its IPO valuation. The International School Partnership, recognized for its robust financial performance and organic growth, was another key contributor to value creation.
PGPE Ltd’s annualized average NAV performance over the past ten years aligns with the 11.4% total return on NAV for 2024, including dividends paid to shareholders. As of December 31, 2024, the company had an available revolving facility of EUR 140 million and EUR 18.7 million in cash and cash equivalents.
This performance update is based on a press release statement and further details can be accessed through the monthly report available on the company’s website. PGPE Ltd, managed by Partners Group with USD 152 billion under management in private markets, continues its focus on providing shareholders with long-term capital growth and an attractive dividend yield.
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