(LSE: PEYS/PEY)
Partners Group Private Equity
Limited
PGPE Ltd publishes Half-Year
Report 2024
Results presentation webcast
details
Partners Group Private Equity Limited today published
its Half-Year Report for 2024. The key financial highlights
are:
|
·
|
Net asset value ("NAV") developed positively and
closed the reporting period at EUR 14.38 per share, representing a
NAV total return of 4.1%, including the first interim dividend.
|
|
·
|
Share price total return over the same period was
13.9%.
|
|
·
|
The first interim dividend of EUR 0.355 per share was
paid to shareholders in June, in line with the objective to
distribute 5% of previous year-end NAV for each financial year, via
semi-annual payments in June and December. At the current share
price the prospective dividend yield is circa 6.7%.
|
|
·
|
Value creation (+5.1%) and favorable currency
movements (+1.3%) contributed to the NAV growth. Notably, the sale
of SRS Distribution ("SRS") made for the largest contribution.
Other large contributors during the reporting period were PCI
Pharma ("PCI"), DiversiTech, International Schools Partnership
("ISP") and Galderma.
|
|
·
|
During the first half of 2024, the Company invested a
total of EUR 19.5 million, including new investments in Rosen
Group, Velvet Care, and Pest Control Partnership. The Company also
made several add-on investments in existing portfolio companies to
support operations and acquisition pipelines. Furthermore, in the
first quarter of 2024, the Company committed an additional EUR 20
million to the Partners Group Direct Equity V fund, bringing the
total commitment to the fund to EUR 50 million.
|
|
·
|
The Company achieved substantial distributions
totaling EUR 103.7 million, reaffirming the strength and quality of
its portfolio. The significant sum was predominantly driven by
exits from portfolio companies SRS and Civica, which contributed
EUR 92.4 million. Additionally, EUR 9.5 million in distributions
were received from other investments across the
portfolio, underscoring the benefits of diversification. Finally,
an amount
of EUR 1.8 million was received from the wind-down of the third-party fund portfolio.
|
|
·
|
Further to the distributions
received, the new investments made and the first interim dividend
paid, the Company had cash and cash equivalents of EUR 24.6 million
and EUR 140 million of undrawn debt facilities at 30 June
2024.
|
A detailed analysis and commentary on the
developments of PGPE Ltd during H1 2024 is presented in the
Half-Year Report published today, which can be accessed via:
www.partnersgroupprivateequitylimited.com/en/investor-relations/financial-reports/interim-reports/
A copy of the above document has been submitted to
the National Storage Mechanism and will shortly be available for
inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
PGPE Ltd will hold the semi-annual
investor update today Thursday, 22 August 2024, at 10:00 BST / 11:00
CEST. During the webcast, Partners Group, the Investment
Manager to PGPE Ltd, will give an update on the recent developments
of the Company's portfolio based on unaudited figures as of 30 June
2024. Please find the registration details below or on the
Company's webpage.
|
Event:
|
H1 2024 results
presentation
|
|
Date:
|
Thursday, 22 August 2024
|
|
Time:
Webcast:
|
10:00 - 11:00 BST (Dublin, London)
11:00 - 12:00 CEST (Zürich,
Frankfurt)
To access the live webcast please use this
LINK.
Use the link to enter the event up to 15 minutes
before the start.
|
The results presentation is now
available at:
https://www.partnersgroupprivateequitylimited.com/en/investor-relations/web-cast-live-events/
Ends.
About Partners Group
Private Equity Limited
PGPE Ltd (formerly Princess Private Equity Holding
Limited) is an investment holding company founded in 1999 and
domiciled in Guernsey. It invests in private equity direct
investments. PGPE Ltd is managed in its investment activities by
Partners Group, a global private markets investment management firm
with USD 149 billion in investment programs under management in
private markets, of which USD 76 billion is in private equity. PGPE
Ltd aims to provide shareholders with long-term capital growth and
an attractive dividend yield. PGPE Ltd is traded on the Main Market
of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS
for the Sterling Quote).
Contacts
Partners Group Private Equity Limited:
pgpe-ltd@partnersgroup.com
www.partnersgroupprivateequitylimited.com
|
Investor relations contact:
pgpe-ltd@partnersgroup.com
www.partnersgroupprivateequitylimited.com
|
Media relations contact:
Jenny Blinch
Phone: +41 41 784 65 26
E-mail:
jenny.blinch@partnersgroup.com
|
Registered Number:
35241 LEI: 54930038LU8RDPFFVJ57
Notes:
1. Note that
references in this announcement to Partners
Group Private Equity Limited have been
abbreviated to "PGPE Ltd" or "Company". References to Partners
Group AG have been abbreviated to "Partners Group" or "Investment
Manager".
2. This
document does not constitute an offer to sell or a solicitation of
an offer to buy or subscribe for any securities and neither is it
intended to be an investment advertisement or sales instrument
of Partners Group Private Equity
Limited. The distribution of this document
may be restricted by law in certain jurisdictions. Persons into
whose possession this document comes must inform themselves about
and observe any such restrictions on the distribution of this
document. In particular, this document and the information
contained therein is not for distribution or publication, neither
directly nor indirectly, in or into the United States of America,
Canada, Australia or Japan.
3.
This document may have been prepared using
financial information contained in the books and records of the
product described herein as of the reporting date. This information
is believed to be accurate but has not been audited by any third
party. This document may describe past performance, which may not
be indicative of future results. No liability is accepted for any
actions taken on the basis of the information provided in this
document. Neither the contents of PGPE Ltd' website nor the
contents of any website accessible from hyperlinks on PGPE Ltd'
website (or any other website) is incorporated into, or forms part
of, this announcement.