Private Equity Holding AG Reports 1.2% NAV Decline

Private Equity Holding AG (PEH) reported its Net Asset Value (NAV) per share as EUR 156.71 (CHF 147.59) as of September 30, 2024. This marks a decrease of 1.2% in EUR (-0.9% in CHF) compared to August 31, 2024. The declining NAV was mainly due to unfavorable foreign exchange movements and poor share price performance of underlying investments, particularly Kazakhstan's fintech firm Kaspi.

Despite positive valuation adjustments in some funds, including Pelion VI and Evolution Technology II, the negative impacts persisted. During September, the portfolio experienced a cash-flow deficit, with EUR 1.3 million distributed compared to EUR 2.2 million in capital calls, notably from Alpha CEE Opportunity V for new secondary investments.

The most significant distribution was from Abry VII, related to its Alliant Insurance Services investment. PEH plans to release its semi-annual report on November 7, 2024.