REG-JZ Capital Partners Ltd: Annual results for the year ended 28 February 2025

JZ Capital PartnersAnnouncement

12/06/2025 07:02

JZ CAPITAL PARTNERS LIMITED (the "Company" or "JZCP")

(a closed-end investment company incorporated with limited liability under the
laws of Guernsey with registered number 48761)

 

ANNUAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2025
 
LEI: 549300TZCK08Q16HHU44
 
(Classified Regulated Information, under DTR 6 Annex 1 section 1.2)

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) NO. 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").

 

12 June 2025

 

JZ Capital Partners Limited, the London listed fund that has investments in US
and European micro-cap companies and US real estate, announces its preliminary
results for the year ended 28 February 2025.

 

JZCP has today released its Annual Report and Financial Statements for the
year ended 28 February 2025. The Report will shortly be available for
inspection via the Company's website http://www.jzcp.com.

 

A copy of the Annual Report and Financial Statements will be submitted to the
National Storage Mechanism and will shortly be available for inspection online
at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

Financial and Operational Highlights
* NAV per share of $4.06 (FYE 29/02/24: $4.08) 
* NAV of $274.6 million (FYE 29/02/24: $316.1 million) 
* Total realisation and distribution proceeds of $47.4 million (FYE 29/02/24:
$78.4 million), which includes the successful realisation of  Karium and My
Lender (held through JZI Fund III, L.P.) and Deflecto.
* The US micro-cap portfolio has continued to perform well during the
twelve-month period, delivering a net increase of 12 cents per share due to
net accrued income (4 cents) and the uplift of Deflecto upon realisation (5
cents). The European portfolio was flat during the year. 
* The Company has two remaining properties with equity value: Esperante, an
office building in West Palm Beach, Florida, and 247 Bedford Avenue, a retail
building with Apple as the primary tenant, in Williamsburg, Brooklyn.
Investment Policy and Liquidity
* Since the Company adopted its current investment policy in August 2020, the
Company has achieved realisations in excess of $500 million, repaid
approximately $270 million of debt and returned $70 million of capital to
shareholders.
* The Company returned $40 million to shareholders in July 2024, and
post-period end, returned an additional $30 million to shareholders at the end
of March 2025.
* The Company is debt free and now has approximately $77 million of cash and
treasuries and a reduced but still substantial investment portfolio of
approximately $167 million. 
* In line with the Company's investment policy, certain assets within the
portfolio will require significant further investment and time to maximise
their value:
* The Company has reserved $20.5 million to Follow-on Flex Pack (through JZHL
Secondary Fund LP), of which $12.3 million has been invested; $12.5 million
for Esperante, of which $8.7 million has been invested; $15 million for
Spruceview; and $20 million for capital calls from JZI Fund III, L.P.,
including an anticipated requirement for further support.
 

David Macfarlane, Chairman of JZCP, said: "The Company continues to be in a
strong financial position following the return of approximately $70 million to
shareholders. The Board and the Investment Adviser continue to be focused on
the implementation of the Company's investment policy by the maximisation of
the value of  the Company's remaining investments, their orderly realisation
and the return of capital to shareholders."

 

Market Abuse Regulation:

The information contained within this announcement is inside information as
stipulated under MAR. Upon the publication of this announcement, this inside
information is now considered to be in the public domain. The person
responsible for arranging the release of this announcement on behalf of the
Company is David Macfarlane, Chairman.

 

For further information:

 

Kit Dunford                     +44 (0)7717 417 038

FTI Consulting

 

David Zalaznick
                                                                      +1
212 485 9410

Jordan/Zalaznick Advisers, Inc.

 

Samuel Walden      +44 (0) 1481 745385

Northern Trust International Fund

Administration Services (Guernsey) Limited

  

About JZ Capital Partners

 

JZCP has investments in US and European micro-cap companies, as well as real
estate properties in the US.

 

JZCP's Investment Adviser is Jordan/Zalaznick Advisers, Inc. ("JZAI") which
was founded by David Zalaznick and Jay Jordan in 1986. JZAI has investment
professionals in New York, Chicago, London and Madrid.

 

In August 2020, the Company's shareholders approved changes to the Company's
investment policy. Under the new policy, the Company will make no further
investments except in respect of which it has existing obligations and to
continue to selectively supporting the existing portfolio. The intention is to
realise the maximum value of the Company's investments and, after repayment of
all debt, to return capital to shareholders.

 

JZCP is a Guernsey domiciled closed-ended investment company authorised by the
Guernsey Financial Services Commission. JZCP's shares trade on the London
Stock Exchange.

 

For more information please visit www.jzcp.com.

 



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