Jpel Private Equity Share Discussion Threads

[alanji] 22/10/2014 17:21

I nearly joined you when I went to 70% cash in early September but checked JPEL again and decided to hold - they do look very good value.

[skyship] 22/10/2014 15:16

I ducked out of these when I went 50% liquid in the first week of September. Decided that was a bad call & partially bought back in @ 79c yesterday; partly because I expect continued strength in the US$.

[skyship] 07/8/2014 07:56

7 August 2014

Notice to Shareholders - Net Asset Value and Quarter End Review for June 2014

J.P. Morgan Private Equity Limited ("JPEL" or the "Company") has released the Company's Net Asset Value and Quarter End Review for the three months ending 30 June 2014.

Please find detailed below the estimated net asset value per share for J.P. Morgan Private Equity Limited as at 30 June 2014*:

Ordinary Share Class (Fully Diluted) - $1.14

[jaws6] 17/7/2014 09:15

atlast some buys coming at .7825

[skyship] 02/7/2014 18:06

JPEL's latest Monthly Report shows encouraging progress:
========================================================

Highlights from May 2014

• JPEL's NAV per US$ Equity Share increased from $1.11 to $1.13

• JPEL received distributions of $37.8 million during the month

• The Company paid down €20.0 million (or approximately US$ 27.2 million) of the Lloyd's Facility and ended the month in a net cash positive position

• JPEL's US$ Equity Share price increased 3.0% during the month to end May at $0.77



Major Drivers of Portfolio Growth

· JPEL's NAV growth for the month is primarily due to the performance of Placid Holdings and Deutsche Annington Immobilien Group ("DAIG").

· Placid Holdings is a holding company with an investment in a branded Asian handset distributor with a leading market position in smart phones and feature phones in India. JPEL acquired an interest in the company in February 2014 as part of its re-investment program. The company's increase in value was driven by a 100% year-over-year revenue growth for its fiscal year ended March 2014, due to the rising demand for affordable smart phones.

· May was also an active month for DAIG, JPEL's largest investment, where JPEL received a distribution, a partial liquidity event and direct ownership of DAIG's underlying shares (subject to a 90-day lock-up).

· On 16 May 2014, JPEL received a cash dividend of €1.2 million from its investment in DAIG. DAIG subsequently conducted a distribution in kind to shareholders at a price of €20.69 per share (less carried interest attributed to the manager Terra Firma). As a result, JPEL received direct ownership of approximately 2.4 million shares of DAIG. In conjunction with this distribution of shares, JPEL participated alongside other investors in a block trade and sold 25% of its position at €19.50, resulting in cash proceeds of approximately €11.8 million.

· After the block trade, JPEL holds approximately 1.8 million shares of DAIG which the Company values at the final trade price on the last day of the month, consistent with JPEL's valuation policy for its other public holdings. These shares are subject to a 90-day lock-up period which expires on 20 August 2014.



Distribution Activity

· During the month, JPEL received $37.8 million of distributions and $0.2 million of capital calls. Most notably, the Company received approximately $17.6 million from a dividend and the sale of shares in DAIG, as described above. In addition, JPEL received approximately $11.0 million of distributions from BoS Mezzanine Partners, LP.

· JPEL received $4.5 million from the sponsor led sale of 50% of its interest in Argan Capital Fund, a 2006 European buyout fund. The Company also received $3.2 million from Alto Capital II, a 2007 European buyout fund that exited two of its underlying portfolio companies.

· Strong cash flow during May permitted JPEL to pay down €20 million (or approximately US$ 27.2 million) of the Lloyd's Facility. JPEL ended the month net cash positive with cash and equivalents of $27.6 million and total liabilities of $22.2 million.

· In addition, the share price of JPEL's US$ Equity Shares increased 3.0% during the month to end May at $0.77, narrowing the trading discount slightly.

· In May, the NAV per share for the Company's 2015 ZDP Shares increased 0.7% to 77.39p and the 2017 ZDP Shares increased 0.7% to 81.08p. The price of JPEL's 2015 ZDP Shares increased 0.7% to 83.25p and the 2017 ZDP Shares increased 1.6% to 95.25p during the month.

[skyship] 01/7/2014 07:20

A tick up in the NAV:
=====================

Notice to Shareholders - Net Asset Value and Month End Review for May 2014

J.P. Morgan Private Equity Limited ("JPEL" or the "Company") has released the Company's Net Asset Value and Quarter End Review for the three months ending 31 May 2014.

Please find detailed below the estimated net asset value per share for J.P. Morgan Private Equity Limited as at 31 May 2014*: Ordinary Shares(Fully Diluted) - $1.13

[jaws6] 27/5/2014 08:16

some good bid in stock today

[deepvalueinvestor] 22/5/2014 20:29

I added again today. Too much in Europe for my liking but the falling gearing and 31% discount to nav makes it interesting in a world with little obvious value.

[jaws6] 22/5/2014 13:43

ok.Thanks.

[tiltonboy] 22/5/2014 13:38

jaws,

Liberum have had that note and target for some time. Obviously the sale of shares in DA re-inforces the case.

[jaws6] 22/5/2014 13:36

broker note with 90 target

[jaws6] 22/5/2014 08:20

Good news on exit on German ipo and got good return too for JPEL .

[jaws6] 02/5/2014 10:12

AGM rns out

[deepvalueinvestor] 23/4/2014 19:56

Yes I read that, encouraging

[skyship] 23/4/2014 17:43

EDISON have issued a 16pp Report on JPEL. Free access:

[skyship] 04/4/2014 17:17

Barwon Inv. Prtnrs, PE & Property specialists of Sydney, bought in here big time (13.5%) at the recent 80c placing. They're also increasing holders in CDI:

[jaws6] 04/4/2014 16:08

AGM on 1 May news

[badtime] 03/4/2014 15:14

Nibbled on a few...better late than never

[deepvalueinvestor] 02/4/2014 20:37

Nice discipline SkyShip. I remain a buyer. Also noted Dne close to my buy level today ahead of the tender.

[skyship] 02/4/2014 15:45

Bought back in here last week @ 74c average. Seems to have made its base and way now clear to recover the first target of 80c...

[jaws6] 02/4/2014 08:56

early move on buy note

[jaws6] 12/3/2014 14:25

Some action on move and 600 k on bid at 72.5

[rambutan2] 13/2/2014 17:48

Hi Sky, no real great fave at mo. Hold MTH (not been tendering), PIN (safe shareholder friendly value), done well out of HVPE over last year and still like it, bought just a few NBPE before recent jump and are pondering on PEY. They another team which hasn't delivered as should have over recent years, so a bit wary.

[skyship] 13/2/2014 17:36

Ram - yes, just because we sold @ 79.75c doesn't necessarily make them cheap @ 73c. I'm holding off for the timebeing, but having had two good profits here (from 60c to 73c; then again from 69.5c to 79.75c) I know I'll be sorely tempted, especially if they retrace to 70c.

In the sector, at the moment I'm holding the two "Brit" stocks - MTH & NRI; and also PEY. Taken profits elsewhere. Do you have a particular favourite at the moment?

[rambutan2] 13/2/2014 17:25

I'm not a fan, have followed since listing and over time this port has failed to deliver as it should have. imho.

Noted...