REG - Partners Grp Pvt Eqt Partners Grp E-PEYS - PGPE Ltd publishes April NAV

Partners Private EquityAnnouncement

06/06/2025 07:00

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RNS Number : 7785L  Partners Group Private Equity Ltd  06 June 2025

(LSE: PEYS/PEY)

 

Partners Group Private Equity Limited

 

NAV decreased by 1.9% in April

 

 

·    NAV decreased by 1.9% to EUR 971.8 million corresponding to EUR 14.05
per share

·    A weaker USD drove unfavorable currency movements (-2.1%) that
impacted NAV, although portfolio revaluations partially offset this with a
modest gain (+0.4%)

·    PGPE Ltd received EUR 3.0 million in distributions and invested EUR
2.2 million in portfolio companies

 

In April, there was heightened volatility due to tariff developments, with
global markets still grappling with lingering uncertainties. The reduction in
NAV primarily reflects the currency depreciation in the dollar due to these
headwinds.

 

Nevertheless, the uplift in portfolio revaluations partially offset the impact
from currency movements. Strong portfolio fundamentals and an active value
creation approach continue to drive organic growth, as demonstrated by notable
performers such as Vishal Mega Mart ("Vishal") and Foundation Risk Partners
("FRP").

 

Vishal, a leading player in India's retail sector, recently reported its
financial results for the quarter ended 31 March 2025, wherein revenue grew by
23% year on year on the back of robust 13.7% same-store sales growth, while
adjusted EBITDA expanded by 74% over the period. The margin gains reflect
operational efficiencies and successful category management across its retail
portfolio. Meanwhile, the company's store network increased to 656 locations
across 458 cities. Vishal began trading on the National Stock Exchange and
Bombay Stock Exchange on 18 December 2024, pricing 1,026 million shares of
common stock at INR 78 per share, giving a fully diluted equity value of INR
370 billion. At the end of April, Vishal was trading at INR 118.48 per share
and is now the largest single investment in PGPE Ltd at 8.5% of NAV i 
(#_edn1) .

 

 

FRP, a US-based independent insurance broker, reported an increase in
valuation over the reporting period. Despite a softening rate environment that
has led to a slowdown in acquisitions, FRP is outperforming expectations
driven by robust organic growth. Key short-term priorities include the ongoing
deployment of AI-based tools and processes to drive organic growth and improve
margins, alongside the continued development and deployment of organizational
platforms and an ERP system implementation.

 

Additionally, PGPE Ltd received EUR 2.9 million from the further sale of a
portion of its stake in Galderma, a pure-play dermatology category leader. The
shares were sold via an accelerated bookbuild at a price 11% above the
previous placement price and more than 68% above Galderma's IPO
valuation. Post-transaction, the remaining NAV of Galderma in the portfolio
of PGPE Ltd is EUR 23.8 million. The realization of the remaining stake is
expected to occur over time.

 

PGPE Ltd's recent quarterly update webcast, available here
(https://edge.media-server.com/mmc/p/27y9fy8u/) , includes an initial
assessment of US tariff impacts on the portfolio.

 

 

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 over USD 150 billion in investment programs under management in
private markets, of which USD 78 billion is in private equity. Partners Group
itself is listed at 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 "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.

 i  (#_ednref1) Shown NAV of Vishal is net of taxes and lock-up discount.

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