PGGO publishes August NAV
September 14 2009 - 4:01AM
UK Regulatory
TIDMPGGO
RNS Number : 9881Y
Partners Group Global Opportunities
14 September 2009
News Release
Guernsey, 14 September 2009
PGGO publishes August NAV
During the month of August, the net asset value ("NAV") of PGGO decreased by
2.3% to EUR 4.68 per share. This result is largely attributable to
re-assessments of underlying portfolio investments, which led to a decline of
the NAV of 1.8%. While mark-to-market valuations of listed holdings which
account for EUR 16.2 million in the PGGO portfolio had a positive impact, these
were more than offset by downward revaluations of certain private market
investments. Due to the depreciation of the US dollar against the Euro in
August, foreign exchange movements had an additional negative impact of 0.7% on
the net asset value. However, recurring cash flows from the direct debt
investments continued to be a stable return driver, adding 0.6% to PGGO's NAV in
August.
Urs Wietlisbach, a Director of PGGO and co-founder of Partners Group, the
investment advisor to PGGO, comments: "We are currently seeing an increase in
public comparables due to the positive momentum in equity markets, which leads
to a certain stabilization of private equity valuations despite a continuously
difficult earnings environment. However, operational difficulties in certain
more cyclical portfolio companies have led to further, though relatively modest,
revaluations of PGGO's private market investments. Due to the active steering of
PGGO's portfolio companies by the respective private equity sponsors and an
overall deleveraging across the PGGO portfolio, we are confident in PGGO's mid-
to long-term positive NAV development on the back of a slowly recovering
macroeconomic environment."
About Partners Group Global Opportunities Limited
Partners Group Global Opportunities Limited is a closed-ended investment company
with limited liability domiciled in Guernsey and traded on the London Stock
Exchange (Main Market) (Ticker symbol: PGGO). Partners Group Global
Opportunities Limited is designed to provide public market investors access to
direct private equity and private debt investments alongside leading private
equity firms and advised by Partners Group AG, a global alternative asset
management firm listed on the SIX Swiss Exchange (ticker symbol: PGHN) with over
CHF 24 billion assets under management in private equity, private debt, private
real estate, private infrastructure, absolute return strategies and listed
alternatives.
Contacts
Partners Group Global Opportunities Limited
info@pg-globalopportunities.net
www.pg-globalopportunities.net
Registered Number: 45101
Media enquiries
Partners Group AG
Tamara Krebs
Communications
Phone: +41 41 768 85 26
tamara.krebs@partnersgroup.com
www.partnersgroup.com
Corporate broker
JPMorgan Cazenove
20 Moorgate
London EC2R 6DA
United Kingdom
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 Global
Opportunities 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.
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.
Issued and approved by Partners Group (UK) Ltd., authorised and regulated by the
Financial Services Authority in the United Kingdom.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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