NAV increases by 4.4% in December
(LSE: PEYS/PEY)
Partners Group Private Equity Limited
NAV increases by 4.4% in December
· NAV increased by 4.4% to EUR 15.03 per share; total net assets at EUR 1'039 million
· Positive value creation[i] (4.6%) and currency movements (0.8%)
· PGPE Ltd received distributions of EUR 21.7 million and invested EUR 1.3 million
· Vishal Mega Mart, the second largest portfolio company in PGPE Ltd, key contributor to value creation (2.9% of NAV) and distributions (EUR 18.8 million)
· At 31 December 2024, PGPE Ltd has an entire revolving facility of EUR 140 million available and EUR 18.7 million in cash and cash equivalents
In December, PGPE Ltd's net asset value rose by 4.4%. Including the dividends paid to shareholders this year, it results in a NAV total return of 11.4% for 2024, in line with the annualized average NAV performance over the past ten years.
Vishal Mega Mart ("Vishal") remained a key performance driver at portfolio level. The leading Indian retailer increased in value over the period based on its share price performance. Vishal began trading on the National Stock Exchange and Bombay Stock Exchange on 18 December 2024, pricing 1'026 million shares of common stock at INR 78 per share, giving a fully diluted equity value of INR 370 billion. As part of the IPO, PGPE Ltd has sold approximately 23% of its underlying investment in Vishal with an uplift of 36%[ii], which resulted in a distribution during December of EUR 18.8 million. Since Partners Group's initial investment in 2018, Vishal has demonstrated strong growth, with EBITDA rising over 55% in the last two years and revenues by more than 60%, reflecting the successful execution of several value creation initiatives
The remaining balance of EUR 2.9 million in distributions largely came from Galderma. PGPE Ltd received proceeds from the sale of a portion of its stake in the pure-play dermatology category leader. The shares were sold via an accelerated bookbuild process, achieving a price that was over 50% above Galderma's IPO valuation.
Finally, International School Partnership ("ISP") was another key contributor to value creation. The leading global K-12 schools group's increased value reflects its robust financial performance, which has been driven both by strong organic growth and acquisitions. ISP has a strong acquisition team and proven capabilities in onboarding new acquisitions and delivering sustainable organic growth through its high-quality offer and learning-focused philosophy.
Further information is available in the monthly report, which can be accessed via: https://www.partnersgroupprivateequitylimited.com/en/investor-relations/financial-reports/
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 152 billion in investment programs under management in private markets, of which USD 78 billion is in private equity. Partners Group itself is listed at the Swiss Stock Exchange (ticker: PGHN). 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
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Investor relations contact: Andreea Mateescu Phone: +41 41 784 66 73 E-mail: andreea.mateescu@partnersgroup.com
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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.
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