SEP Standard Life European Private Equity Trust

TIDMSLPE

Standard Life Private Eqty Trst PLC

17 September 2021

Standard Life Private Equity Trust - Proving its mettle

16(th) September 2021

Proving its mettle

We held the view throughout 2020 that private equity funds like Standard Life Private Equity (SLPE) were being unfairly penalised by the market with wide discounts to net asset value (NAV). This was especially true once it became clearer, from the middle of 2020 onwards, that distributions were likely to be good, and relatively few underlying companies required liquidity support.

Since November, European-listed private equity has been outperforming broader global listed equities. However, until recently, this had limited impact on the discounts of funds such as SLPE, whose discount is broadly in line with the wider peer group average of 12.8%. We think this discount narrowing was justified and should continue. Over 40% of SLPE's underlying exposure is to healthcare and technology, where rampant exit activity has been fuelling much-better-than-expected distributions. SLPE expects a busy rest of 2021, with the pipeline looking particularly good in primary investments in new funds and co-investments.

Full research:

https://quoteddata.com/research/standard-life-private-equity-trust-proving-mettle-qd/

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September 17, 2021 08:09 ET (12:09 GMT)

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