(LSE: PEYS/PEY)
Partners Group Private Equity
Limited
NAV increases by 1.3% in
June
· NAV
increased by 1.3% to EUR 14.38 per share; total net assets at EUR 994.45 million
·
Positive value creation (1.1%) and currency
movements (0.7%)
·
NAV total return for six months to 30 June 2024 of
4.1%
· PGPE Ltd
received distributions in June of EUR 75.1 million
· Revolving
credit facility fully repaid, with cash and cash equivalents at 30
June 2024 of EUR 24.6 million
PGPE Ltd received distributions of EUR 75.1 million
in June, of which EUR 70.2 million stemmed from the sale of SRS
Distribution ("SRS"). SRS was sold to The Home Depot, the world's
largest home improvement retailer, at an enterprise valuation of
USD 18.25 billion. The transaction closed in June 2024. Based in
the US, SRS is one of the largest distributors of roofing,
landscaping, and pool supply products. Founded in 2008, SRS has
grown via acquisitions and greenfield branch openings, while
same-store sales growth benefitted from an expanding US property
market and rising roof replacement demand. The company also
expanded into several new distribution segments, including
landscaping and swimming pools.
The remaining balance of EUR 4.9 million largely came
from KinderCare Education, the largest for-profit provider of early
childhood education and care services in the US, while EUR 0.9
million stemmed from the sale of a portion of the shares in AAVAS
Financiers, an India-based housing finance company providing
housing loans and related financing to low- and middle-income
borrowers in semi-urban and rural areas, through an open market
sale on the National Stock Exchange of India.
At portfolio level, International Schools Partnership
("ISP") was among the largest value drivers. The leading
international K-12 schools group providing English and
multi-lingual education is progressing well on its expansion plan
and anticipates significant M&A activity in the near term.
Partners Group continues to work with ISP's management and board on
further building the business into a world class learning platform
achieving the best student outcomes. ISP has also enjoyed continued
organic growth and aims to scale the platform further, developing a
unique selling proposition by augmenting education with artificial
intelligence (AI) enabled technology.
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 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.