NAV increases by 0.5% in September

Partners Group Private Equity Ltd

04 November 2024

 

(LSE: PEYS/PEY)

Partners Group Private Equity Limited

NAV increases by 0.5% in September

·    NAV increased by 0.5% to EUR 14.24 per share; total net assets at EUR 984.62 million

·    Positive value creation (0.9%) partially offset by adverse currency movements (-0.3%)

·    KinderCare, the fifth largest portfolio company in PGPE Ltd, was the largest contributor to the NAV increase following its IPO pricing

·    PGPE Ltd invested EUR 6.7 million and received distributions of EUR 6.3 million

In September, PGPE Ltd invested EUR 6.7 million, of which EUR 5.5 million was in FairJourney Biologics, a leading European antibody discovery Contract Research Organization (CRO) based in Porto, Portugal. Founded in 2012, FairJourney provides services for the discovery, engineering, production, and characterization of antibodies. FairJourney has worked with over 250 clients across the globe to develop more than 4,000 unique screening libraries for identifying antibodies. The company's partnerships with its customers have yielded 14 therapies that are currently in active clinical development to treat unmet patient needs across oncology, immunology, and cardiovascular disease. FairJourney is set to benefit from structural market tailwinds, including increased R&D spend, outsourcing trends, and a favorable regulatory landscape. Partners Group will work with management on a value creation plan for FairJourney that will expand its technology and capabilities through organic and inorganic investment to unlock faster, more effective drug development for its partners.

PGPE Ltd received distributions totaling EUR 6.3 million, with EUR 6.0 million coming from the sale of a portion of its stake in Galderma, a pure-play dermatology category leader. The shares were sold to L'Oréal, via an off-market block trade that saw the French beauty and cosmetics group invest for a 10% stake in Galderma. The two companies have also agreed on a scientific partnership to develop advanced, future-proof technologies with direct applications in the field of dermatology.

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:

[e-mail]

www.partnersgroupprivateequitylimited.com

Investor relations contact: Andreea Mateescu Phone: [phone] E-mail: [e-mail]

Media relations contact: Jenny Blinch Phone: [phone] E-mail: [e-mail]

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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