Berkshire Partners Acquires Accela

RNS Number : 2410T

JPEL Private Equity Limited

11 October 2017

 

JPEL Private Equity Limited

Ground Floor

Cambridge House

Le Truchot, St Peter Port

Guernsey, GY1 1WD

www.jpelonline.com

Berkshire Partners Acquires Accela

·      ACCELA WAS JPEL'S 3^rd LARGEST INVESTMENT AT 30 JUNE 2017

·      JPEL RECEIVED PROCEEDS OF APPROXIMATELY USD 29 MILLION

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GUERNSEY, 11 OCTOBER 2017

JPEL is pleased to announce that on 29 September 2017, Berkshire Partners LLC announced an investment in Accela, a leading provider of civic engagement software solutions for state, county and municipal governments.

The sale of Accela resulted in an investment return of approximately 2.05x and an IRR of approximately 35% for JPEL.  As part of the transaction, JPEL received proceeds of approximately USD 29 million. JPEL held an indirect interest in Accela and will remain an investor in the company.    

At 30 June 2017, Accela represented 8% of JPEL's private equity investments and was JPEL's 3^rd largest underlying investment.

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About JPEL Private Equity Limited

JPEL Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL) designed primarily to invest in the global private equity market.  The investment objective of the Company is to achieve both short and long-term capital appreciation by investing in a well-diversified portfolio of private equity fund interests and by capitalising on the inefficiencies of the secondary private equity market.  

ENQUIRIES:

FCF JPEL Management LLC

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