REG - Partners Grp Pvt Eqt Partners Grp E-PEYS - Free Cash Flow and commencement of share buy backs

Partners Private EquityAnnouncement

08/10/2025 07:00

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RNS Number : 4322C  Partners Group Private Equity Ltd  08 October 2025

(LSE: PEY/PEYS)

 

Partners Group Private Equity Limited

 

Quarterly Free Cash Flow calculation and commencement of share buy backs

 

Partners Group Private Equity Limited ("the Company") announced the sales of
two top ten portfolio companies in July 2025: PCI Pharma Services ("PCI"), its
largest investment, and Techem, its seventh largest investment. In both
transactions, the Company will reinvest a portion of proceeds to maintain
participation in these companies' next growth phases. These transactions,
along with other portfolio activity, signal progress towards more normalised
investment and distribution patterns.

 

The Board notes that the Company paid EUR 25.9 million to shareholders by way
of a first interim dividend on 13 June 2025 and is expected to pay a further
EUR 25.9 million to shareholders by way of a second dividend in December 2025.
The total dividends expected to be paid in 2025 are equivalent to 5% of the
Company's net assets as at 31 December 2024, which is in line with the
Company's dividend objective. Such dividends are an important return of cash
to shareholders.

 

The Company today announces that under the terms of its capital allocation
policy adopted in March 2024, Free Cash Flow as at 30 September 2025 was
marginally positive, with Free Cash Flow of EUR 5.4 million.

 

The Board recognises the increasing activity in the Company's investment
portfolio and the Investment Manager's expectation that total projected
distributions to be received in 2025 will exceed the EUR 140 million received
in 2024. Against this background, and noting that the Company's shares
continue to trade at a discount of more than 20% to NAV, the Board has agreed
to uplift the amount available for share buybacks under the capital allocation
policy from EUR 2.7 million, to up to EUR 15 million (the "Buyback
Programme"). The Buyback Programme will commence following the receipt of
proceeds from the PCI transaction, anticipated to be in October 2025, and is
expected to be implemented over the period to 31 January 2026. The Company
last undertook share buybacks in July 2014.

 

Buyback Programme

 

The Buyback Programme will be carried out under the existing shareholder
authorisation granted at the last Annual General Meeting, on 19 June 2025 (the
"AGM"), for purchases of Ordinary Shares by the Company in the market for up
to 14.99% of the Company's issued capital as at the AGM, being 10,365,760
Ordinary Shares. The Company intends, at its sole and absolute discretion and
subject to prevailing market conditions, to exercise this authority from time
to time pursuant to the Buyback Programme.

 

In line with the authority given at the AGM, the maximum price (exclusive of
expenses) which may be paid for each Ordinary Share is the higher of (i) an
amount equal to 105 per cent. of the average market value of the Ordinary
Shares (as derived from the Daily Official List of London Stock Exchange plc)
for the five business days immediately preceding the day on which the share is
contracted to be purchased; and (ii) an amount equal to the higher of the last
independent trade and the highest current independent bid on the trading venue
where the purchase is carried out.

 

Unless previously varied, revoked or renewed, the authority for the Company to
repurchase its own shares granted at the AGM will expire at the conclusion of
the Annual General Meeting of the Company to be held in 2026 (save that the
Company may, prior to such expiry, enter into a contract to purchase Ordinary
Shares under such authority and may make a purchase of Ordinary Shares
pursuant to any such contract).

 

Given the level of liquidity in the Company's shares, the Company will retain
the ability to exceed the average daily volume parameters prescribed by the
exemption for buyback programmes established by UK Market Abuse Regulation
("MAR") and the MAR buyback programme technical standards (Commission
Delegated Regulation (EU) 2016/1052), as it forms part of domestic law by
virtue of the European Union (Withdrawal) Act 2018 (as amended from time to
time). Accordingly, the Company may not benefit from the exemption contained
in Article 5(1) of MAR.

 

While the Company has launched the Buyback Programme, there is no certainty on
the volume of Ordinary Shares that may be acquired under the Buyback Programme
and the pace of acquisitions. The Board will keep the Buyback Programme under
review to make sure it continues as an efficient and effective means of
generating value for shareholders and the Buyback Programme may be cancelled
or changed at any time at the Company's sole and absolute discretion.

 

Any Ordinary Shares repurchased will be held in Treasury by the Company.

 

Any market purchase of Ordinary Shares pursuant to the Buyback Programme will
be announced no later than 7:30am (UK time) on the business day following the
day on which the purchase occurred.

 

The Company has appointed Deutsche Numis to manage an irrevocable,
non-discretionary instruction to continue the Company's Share Buyback
Programme during closed periods.

 

Ends.

 

About Partners Group Private Equity Limited

PGPE Ltd 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 over USD 174 billion in investment programs
under management in private markets, of which USD 83 billion is in private
equity. Partners Group itself is listed on the Swiss Stock Exchange (ticker:
PGHN). 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:                  Media relations contact:

 Andreea Mateescu                             Jenny Blinch

 Phone: +41 41 784 66 73                      Phone: +41 41 784 65 26

 E-mail: andreea.mateescu@partnersgroup.com   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 "the Company".
References to Partners Group AG have been abbreviated to "Partners Group" or
"the 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 are 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's website nor the contents of any website
accessible from hyperlinks on PGPE Ltd's website (or any other website) are
incorporated into, or form part of, this announcement.

4.     This announcement may contain forward-looking statements. Any
statement other than a statement of historical fact is a forward-looking
statement. Actual results may differ materially from those expressed or
implied by any forward-looking statement. The Company does not undertake any
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise. You should not place
undue reliance on any forward-looking statement, which speaks only as of the
date of its issuance.

 

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