REG - Patria Pvt Eq Trust. - Net Asset Value(s)

Patria Private Equity TrustAnnouncement

Tue 07:00

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RNS Number : 9899U  Patria Private Equity Trust PLC  03 March 2026

Patria Private Equity Trust plc

Legal Entity Identifier (LEI): 2138004MK7VPTZ99EV13

 

3 March 2026

ESTIMATED NET ASSET VALUE AT 31 JANUARY 2026

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

·      Estimated NAV at 31 January 2026 was 829.2 pence per share
(estimated NAV at 31 December 2025 was 840.2 pence per share)

·      Excluding new investments, 96.3% by value of portfolio dated 30
September 2025 (estimated NAV at 31 December 2025 was 96.3% dated 30 September
2025)

·      Third interim dividend of 4.4 pence per share paid on 23 January
2026

·      PPET paid £10.4 million of drawdowns and received £3.5 million
of distributions during the month of January

·      PPET made no new investments in January 2026

·      Outstanding commitments of £728.8 million at 31 January 2026

·      Short term resources (cash balances and undrawn credit
facilities) were £259.4 million as at 31 January 2026

 

Estimated NAV

At 31 January 2026, PPET's estimated NAV was 829.2 pence per share (estimated
net assets £1,228.5 million) 1 , representing a 1.3% per share decrease from
the estimated NAV at 31 December 2025 of 840.2 pence per share (estimated net
assets £1,248.5 million). The 11.0 pence decrease in NAV per share reflected
losses arising primarily from a 0.5% depreciation in the euro versus sterling
and a 2.2% depreciation in the US dollar versus sterling during January, in
addition to the third interim dividend payment of 4.4 pence per share on 23
January 2026. The total payment made for the third interim dividend was £6.5
million.

 

 

Performance

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

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

                                                                                                 Inception

                                  6 months
 NAV Total Return 2               5.4%       8.1%         20.8%        91.8%        266.2%       1136.1%
 Share Price Total Return 3       15.1%      14.2%        45.7%        91.2%        329.4%       947.9%
 FTSE All-Share Index 4           12.7%      21.1%        44.5%        80.8%        137.6%       363.0%

 Performance in the 12 months to             31 Jan 2026  31 Jan 2025  31 Jan 2024  31 Jan 2023  31 Jan 2022
 NAV Total Return(2)                         8.1%         7.0%         4.5%         14.6%        39.1%
 Share Price Total Return(3)                 14.2%        13.9%        12.0%        -11.2%       47.9%
 FTSE All-Share Index(4)                     21.1%        17.1%        1.9%         5.2%         18.9%

 

Investment activity

As advised in the December 2025 NAV annoucement, PPET made a final payment of
£1.7 million to the seller for the remainder of the interests relating to
Project Captain.

Portfolio cashflows

PPET paid £10.4 million of drawdowns during the month of January, of which
£10.2 million related to primary investments, £0.1 million related to
secondary investments and £0.2 million related to direct investments.

Notable drawdowns in the primary fund portfolio during the month include:

·    Investindustrial VIII SCSp: to fund investment into Piovan, a global
leader in the design, manufacture and installation of systems that automate
the storage, transport and processing of polymers, plastic powders, and food
ingredients; and

·    Investindustrial Growth III: to fund a follow-on investment into
Virospack, a leading manufacturer based in Barcelona specialising in cosmetic
packaging solutions.

PPET received £3.5 million of distributions during the month of January, of
which £2.3 million related to primary funds and £1.2 million related to
secondary investments.

Notable realisations the month included:

·    PAI Strategic Partnerships SCSp: proceeds from the exit of Marcolin,
an Italian eyewear manufacturer; and

·    ArchiMed - Med Platform 2: proceeds from a refinancing of Jeisys
Medical, a company which specialises in non-invasive aesthetic medicine
devices.

Commitments

The Company had £728.8 million of outstanding commitments at 31 January 2026.
The Manager believes that around £94.0 million of the Company's existing
outstanding commitments are unlikely to be drawn.

 

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. On 29 January 2026, Banco
Santander, S.A. transferred part of their commitment to State Street Bank
& Trust Company, who have increased their commitment. The facility is due
to expire in February 2028.

The Company made no repayments to or drawdowns from the facility during the
month of January, with a total of £162.4 million drawn at 31 January 2026.
The remaining undrawn balance of the facility at 31 January 2026 was therefore
£237.6 million.

In addition, the Company had cash balances of £21.8 million at 31 January
2026. Accordingly, short term resources, calculated as the total of cash
balances and the undrawn balance of the credit facility, were £259.4 million
as at 31 January 2026.

 

Share Buybacks

Pursuant to the Company's share buyback programme, the Company bought back
445,000 ordinary shares into treasury during January. The positive effect of
the buyback programme is reflected within the movement in NAV.

 

For further information please contact:

 

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

 Amber Sarafilovic (Marketing & Investor Relations)
 Paul Evitt (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
(http://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 January 2026, excluding new investments, 96.3% by value of the
portfolio valuations were dated 30 September 2025. The value of the portfolio
is therefore calculated as the 30 September 2025 valuation, adjusted for
subsequent cashflows over the period to 31 January 2026.

 

 2  NAV Total Return assumes reinvestment of 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 reinvestment of 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

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