REG - Partners Grp Pvt Eqt Partners Grp E-PEYS - Annual results and webcast details

Partners Private EquityAnnouncement

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RNS Number : 5568X  Partners Group Private Equity Ltd  23 March 2026

(LSE: PEY/PEYS)

 

Partners Group Private Equity Limited

 

Annual results and webcast details

 

2025 highlights

PGPE Ltd today publishes its annual results for 2025. The key highlights are:

·    Net asset value ("NAV") closed the year at EUR 13.00 per share.
Including the dividend paid of EUR 0.75 per share, this represents a NAV
total return of -8.7%.

·    The NAV decline during the year was primarily attributable to
unfavorable currency movements (-5.7%), as the weakening US Dollar
significantly weighed on performance. Value creation for the year was modest
(+0.7%), impacted by a number of portfolio companies facing idiosyncratic
challenges. While the pre-2021 exposures drove strong realizations and
liquidity, a number of 2021-23 vintage assets proved to be more sensitive to
macro and company specific headwinds, amplified by the effects of higher entry
valuations and capital structures set during a lower-rate environment. Most
assets within the 2021-23 cohort remain above cost and maintain positive
EBITDA growth.

·    The disappointing performance in 2025 now means that for the five
year period 2021-2025 inclusive, cumulative NAV total return was 21.7%, or
4.0% on an annualized basis.

·    Share price total return in 2025 was 5.3%. The discount to NAV was
19.6% at 31 December 2025.

·    As the Board has previously highlighted, investment performance,
along with the persistent discount to NAV at which the Company's shares trade,
remains its key focus. In light of recent investment performance and
shareholder feedback, the Board is discussing with the Investment Manager and
the Company's advisers what options might establish a satisfactory path
forward that marries achieving liquidity for investors at a narrower discount
to NAV, whilst providing long-term investors with an attractive proposition
going forward. The Board will update shareholders on its assessment at the
Annual General Meeting expected to be held on 18 June 2026.

·    A total of EUR 57.6 million was distributed to shareholders in 2025,
predominantly through EUR 51.8 million in dividends. The remaining EUR 5.8
million comprised share buybacks, with the Company having acquired 562,025
ordinary shares under the EUR 15.0 million program announced in October 2025.
Notably, the Company has extended its share buy-back programme through to 30
April 2026, enabling utilization of the remaining allocated amount.

·    5% of 2024 year-end NAV was paid out as dividend in 2025 amounting
to EUR 0.75 per share, resulting in an annualized dividend yield of 7.2%
based on the year-end share price of EUR 10.45.

·    PGPE Ltd achieved strong distributions in 2025, receiving total
proceeds of EUR 227.3 million (2024: EUR 144.0 million), marking the highest
level of distributions since 2021. Realization activity during 2025
contributed to a reduction in the average hold period, resulting in an overall
portfolio weighted average hold of 4.6 years.

·    PGPE Ltd invested EUR 102.4 million in 2025 (2024: EUR 31.0 million)
across a diversified range of companies. This brought the Company closer to
its long-term average of investing around 10.0% of net assets annually.

·    The cash balance of PGPE Ltd stood at EUR 8.1 million as of 31
December 2025. The Company has a recently renewed EUR 150.0 million revolving
credit facility, expiring in 2029, which was undrawn as of 31 December 2025.

 

 

Peter McKellar, Chair of PGPE Ltd, said:

"2025 was a year of continued progress at Partners Group Private Equity Ltd,
with the announcement of materially improved investment management terms, the
strongest realization activity since 2021, the allocation of up to EUR 15
million under the capital allocation policy to fund the Company's first share
buybacks since 2014, and the renewal of the revolving credit facility on more
advantageous terms. In addition, the Company was admitted to the FTSE 250 in
September 2025, which has resulted in an uplift in share trading volumes.
Sadly, notwithstanding the strong liquidity generated from the Company's
investment portfolio, this could not reverse the poor NAV total return
performance of the first half of 2025. NAV total return for the full year was
down 8.7%, of which 5.7% was from the negative impact of foreign exchange
movements on the value of the investment portfolio."

 

 

PGPE Ltd 2025 results webcast details

PGPE Ltd will hold an investor update today, 23 March 2026 at 10:00 GMT /
11:00 CET. During the webcast, Partners Group, the Investment Manager of the
Company, will give an update on the recent developments of the PGPE Ltd
portfolio based on audited figures as of 31 December 2025.

 

Please find the registration details here
(https://edge.media-server.com/mmc/p/ukzvpij8)

 

The presentation and full annual report are available here:

https://www.partnersgroupprivateequitylimited.com/investors/reports-and-presentations

 

 

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, one of the largest firms in
the global private markets industry, with USD 185 billion in investment
programs under management in private markets, of which USD 86 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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