REG - Patria Pvt Eq Trust. - ESTIMATED NET ASSET VALUE AT 31 MARCH 2026

Patria Private Equity TrustAnnouncement

05/05/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260505:nRSE9044Ca&default-theme=true

RNS Number : 9044C  Patria Private Equity Trust PLC  05 May 2026

Patria Private Equity Trust plc

Legal Entity Identifier (LEI): 2138004MK7VPTZ99EV13

 

5(th) May 2026

ESTIMATED NET ASSET VALUE AT 31 MARCH 2026

Patria Private Equity Trust plc ("PPET" or "the Company") announces its
estimated net asset value ("NAV") at 31 March 2026

·      Estimated NAV at 31 March 2026 was 864.9 pence per share
(estimated NAV at 28 February 2026 was 868.0 pence per share)

·      Excluding new investments, 95.8% by value of portfolio dated 31
December 2025 (estimated NAV at 28 February 2026 was 83.8% dated 31 December
2025)

·      PPET paid £14.5 million of drawdowns and received £13.5 million
of distributions during the month of March

·      PPET completed one direct investment and one primary fund
commitment in the month

·      PPET sold part of its direct investment in Action during the
month, realising £19.1 million in cash proceeds

·      Outstanding commitments of £836.0 million at 31 March 2026

·      Short term resources (cash balances and undrawn credit
facilities) were £277.6 million as at 31 March 2026

·      This announcement marks PPET's final monthly estimated NAV
announcement before the transition to quarterly reporting

 

Estimated NAV

At 31 March 2026, PPET's estimated NAV was 864.9 pence per share (estimated
net assets £1,269.5 million) 1 , representing a 0.4% per share decrease from
the estimated NAV at 28 February 2026 of 868.0 pence per share (estimated net
assets £1,278.4 million). The 3.1 pence decrease in NAV per share reflected
losses arising primarily from a 0.5% decline from the valuation of remaining
investments as at 31 December 2025 coupled with a 0.4% depreciation in the
euro versus sterling during March, partially offset by a 2.3% appreciation in
the US dollar versus sterling during March.

Performance

PPET's total return and comparator reference performance as at 31 March 2026
was as follows:

 Performance over the last                   1 year       3 years      5 years      10 years     Since

                                                                                                 Inception

                                  6 months
 NAV Total Return 2               3.4%       11.6%        19.3%        67.8%        253.1%       1189.1%
 Share Price Total Return 3       5.6%       6.7%         54.2%        54.8%        299.4%       883.1%
 FTSE All-Share Index 4           8.9%       21.5%        45.6%        69.3%        129.8%       360.0%

 Performance in the 12 months to             31 Mar 2026  31 Mar 2025  31 Mar 2024  31 Mar 2023  31 Mar 2022
 NAV Total Return(2)                         11.6%        3.7%         6.7%         8.4%         38.2%
 Share Price Total Return(3)                 6.7%         7.5%         34.4%        (18.0%)      22.4%
 FTSE All-Share Index(4)                     21.5%        10.5%        8.4%         2.9%         13.0%

 

Investment activity

In the month of March PPET made a €17.0 million primary fund commitment to
One Peak Growth IV, a Pan-European fund focused on the technology sector.

PPET also made a €7.0 million direct investment alongside Capiton into
AlphaPet, a German based digital platform for premium pet food in Europe.

The Company undertook a partial sale of its direct investment in Action during
the month of March, generating proceeds of £19.1 million. As was the case for
its previous partial sale of Action in 2023, PPET took advantage of a
liquidity window and completed the sale to right-size its investment whilst
maintaining exposure to future upside. The realisation was achieved at 100% of
the 31 December 2025 valuation. PPET continues to hold £19.4 million in
Action through its direct investment.

Portfolio cashflows

PPET paid £14.5 million of drawdowns during March, of which £8.1 million
related to primary funds, £0.1 million related to secondary investments and
£6.3 milion related to direct investments.

Aside from the aforementioned new direct investment in AlphaPet, notable
drawdowns in the month include:

·    Nordic Capital XI: to fund a follow on investment into TradingHUB, a
provider of trade surveillance technology to enable financial institutions to
detect market abuse and manipulation; and

·    Capiton VI: to fund a new investment into SAPV Care, a leading
provider of specialised outpatient palliative care services in Germany.

Excluding the partial realisation of Action, PPET received £13.5 million of
distributions during March, of which £9.8 million related to primary funds
and £3.7 million related to secondary investments.

Notable realisations in the month included:

·    Nordic Capital Fund IX: proceeds from Clario, a healthcare technology
company which provides vital data and analysis solutions to pharmaceutical and
biotech industry to run clinical trials more effectively; and

·    MSouth Equity Partners IV: proceeds from Lync Health Partners, a US
based healthcare services company specialising in outpatient surgical clinics.

Commitments

The Company had £836.0 million of outstanding commitments at 31 March 2026.
Around £82.3 million of the Company's existing outstanding commitments relate
to funds which are now outside their investment period.

Credit facility and cash balances

The Company has a £400.0 million syndicated revolving credit facility. The
facility is provided by The Royal Bank of Scotland International Limited,
Societe Generale, State Street Bank International GmbH, State Street Bank
& Trust Company and Banco Santander, S.A. The facility is due to expire in
February 2028.

The Company repaid a total of £23.4 million to the credit facility during the
month of March, reducing the total drawn balance to £140.2 million drawn at
31 March 2026. The remaining undrawn balance of the facility at 31 March 2026
was therefore £259.8 million.

In addition, the Company had cash balances of £17.8 million at 31 March 2026.
Accordingly, short term resources, calculated as the total of cash balances
and the undrawn balance of the credit facility, were £277.6 million as at 31
March 2026.

Share Buybacks

Pursuant to the Company's share buyback programme, the Company bought back
504,000 ordinary shares into treasury during March at a total cost of £2.9
million. The positive effect of the buyback programme is reflected in the
movement in NAV for the month.

Change to Quarterly Reporting

Following engagement with PPET's company broker and the investment trust
analyst community, the Board has decided to change PPET's reporting frequency
from monthly estimated NAV announcements to quarterly actual NAV
announcements. Accordingly, the estimated NAV announcement for the month
ending 31 March 2026 is PPET's final monthly estimated NAV announcement before
the transition to quarterly reporting.

The Board and the Manager believe that this will allow PPET to report in a
more relevant and detailed way, with updates better aligned to the quarterly
valuation cycle of the portfolio. To ensure shareholders continue to receive
timely updates on key developments, the Company also intends to provide
announcements during the quarter where appropriate, including in relation to
material new investments and significant realisations.

PPET's quarterly report based on actual valuations to 31 December 2025 is
available on the PPET website under the News section
(www.patriaprivateequitytrust.com/news-and-insights/news
(http://www.patriaprivateequitytrust.com/news-and-insights/news) ). The next
results update from the Company will be the Half-Yearly report released at the
end of June 2026.

 

For further information please contact:

 

 Patria Private Equity Trust plc       PPET.InvestorRelations@patria.com
 Alan Gauld (Lead Manager)

 Rebecca Matts (Marketing)

 Isabella Sousa (Investor Relations)
 Patria GPMS Company Secretary

 Investec Bank plc                     +44 (0)20 7597 4000
 Lucy Lewis
 Tom Skinner
 Denis Flanagan

 SEC Newgate                           +44 (0)20 3757 6872
 Sally Walton                          PPET@secnewgate.co.uk

 

Notes:-

Patria Private Equity Trust plc is an investment company managed by Patria
Capital Partners LLP, the ordinary shares of which are admitted to listing by
the UK Listing Authority and to trading on the Stock Exchange and which seeks
to conduct its affairs so as to qualify as an investment trust under sections
1158-1165 of the Corporation Tax Act 2010.

Additional detail about PPET's NAV and investment diversification can be found
on PPET's website (www.patriaprivateequitytrust.com
(file:///C%3A/Users/agauld/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4HE5XQTE/www.patriaprivateequitytrust.com)
). Neither the contents of the Company's website nor the contents of any
website accessible from hyperlinks on the Company's website is incorporated
into, or forms part of, this announcement.

 1  PPET's valuation policy for private equity funds and direct investments is
based on the latest valuations reported by the managers of the funds and
direct investments in which the Company has interests. In the case of PPET's
valuation at 31 March 2026, excluding new investments, 95.8% by value of the
portfolio valuations were dated 31 December 2025. The value of the portfolio
is therefore calculated as the 31 December 2025 valuation, adjusted for
subsequent cashflows over the period to 31 March 2026.

This is an update from the estimated NAV at 28 February 2026, whereby 83.8% of
the portfolio valuations, excluding new investments, were dated 31 December
2025, adjusted for subsequent cashflows over the period to 28 February 2026.

 

 2  NAV Total Return assumes reinvesting any dividends in the NAV of the
Company on the date on which that dividend goes ex-dividend and monthly
compounding

 3  Share Price Total Return assumes reinvesting any dividends in the share
price of the Company on the date on which that dividend goes ex-dividend.
Source: London Stock Exchange Group Workspace

 4  Comparator Index - The Company is not managed with direct reference to any
index or its constituents. Source: London Stock Exchange Group Workspace

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NAVAKQBPPBKDAPK



            Copyright 2019 Regulatory News Service, all rights reserved