PGGO publishes July NAV

 

TIDMPGGO 
 
RNS Number : 5810X 
Partners Group Global Opportunities 
17 August 2009 
 

News Release 
 
 
Guernsey, 17 August 2009 
 
 
PGGO publishes July NAV 
 
 
During the month of July, the net asset value ("NAV") of PGGO decreased by 4.7% 
to EUR 4.79 per share. IFRS adjustments carried out by the Investment Manager to 
reflect the current "fair value" of companies held through funds had a positive 
impact of 0.2% on the NAV in July, reflecting the rise in public comparables. 
Further, recurring cash flows from the direct debt investments continued to 
provide a stable return, adding 0.5% to PGGO's NAV in July. However, valuation 
adjustments of certain direct investments led to a negative impact on the NAV of 
1.8%. Additionally, two asset sales, concluding PGGO's program to strengthen its 
balance sheet and reduce gearing to a more moderate level, led to a NAV decrease 
of 2.4% with expected net cash proceeds of EUR 12.7 million. With the US dollar 
depreciating against the Euro during the course of the month, foreign exchange 
movements had a negative effect on the NAV of 0.8%. Operating and financing 
expenses and other income components represent the residual net movement in the 
NAV. 
 
 
As announced last week, in its 13 August 2009 meeting, the Board of Directors of 
Partners Group Global Opportunities Limited approved a credit facility with a 
three-year term, the signing of which is expected in the coming weeks. The 
credit facility of initially EUR 55 million, with an option to increase to EUR 
60 million, is being arranged by a large international bank and is expected to 
be fully underwritten by the lender syndicate. With this new facility in place, 
PGGO has secured sufficient funding to maintain a net gearing level of EUR 
30-50 million over the short-to mid-term. Following the closing of all announced 
secondary sales, which are fully reflected in the NAV as of 31 July 2009, net 
debt is expected to move into this range. Thus, the Board and the Investment 
Manager have now concluded the Company's portfolio repositioning. Nevertheless, 
the Company intends to retain its ability to manage the portfolio on an active 
relative value basis, particularly with a view to participating in attractive 
add-on investments with a high NAV enhancement potential. 
 
 
 
 
About Partners Group Global Opportunities Limited 
Partners Group Global Opportunities Limited is a closed-ended investment company 
with limited liability domiciled in Guernsey and traded on the London Stock 
Exchange (Main Market) (Ticker symbol: PGGO). Partners Group Global 
Opportunities Limited is designed to provide public market investors access to 
direct private equity and private debt investments alongside leading private 
equity firms and advised by Partners Group AG, a global alternative asset 
management firm listed on the SIX Swiss Exchange (ticker symbol: PGHN) with over 
CHF 24 billion assets under management in private equity, private debt, private 
real estate, private infrastructure, absolute return strategies and listed 
alternatives. 
 
 
 
 
Contacts 
Partners Group Global Opportunities Limited 
[e-mail] 
www.pg-globalopportunities.net 
 
 
Registered Number: 45101 
 
 
Media enquiries 
Partners Group AG 
Tamara Krebs 
Communications 
Phone: [phone] 
[e-mail] 
www.partnersgroup.com 
 
 
 
 
Corporate broker 
JPMorgan Cazenove 
20 Moorgate 
London EC2R 6DA 
United Kingdom 
 
 
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 Global 
Opportunities 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. 
 
 
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. 
 
 
Issued and approved by Partners Group (UK) Ltd., authorised and regulated by the 
Financial Services Authority in the United Kingdom. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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