Jpel Private Equity Share Discussion Threads

[badtime] 29/11/2016 12:06

Let's hope for a continuing weak pound then

[tiltonboy] 29/11/2016 10:57

Meanwhile cash continues to grow in readiness of the first Tender. Hopefully not too long to wait.

[spectoacc] 29/11/2016 09:22

Do love JPEL, but do wish I'd bought more! One of the quality PE plays.

[skyship] 29/11/2016 07:45

Please find detailed below the estimated net asset value per share for JPEL Private Equity Limited as at 31 October 2016:

Ordinary Share Class - $1.42

[skyship] 11/11/2016 09:19

An extract from BTEM's October factsheet:
=========================================

JPEL Private Equity continued its march higher on the back of a narrowing discount, which now sits at 21% having been as wide as almost 30% just a ouple of months ago.

We view JPEL’s portfolio as being well-balanced between mature legacy funds and more recent secondary direct investments. The former generate prodigious cash-flows flows (34% of opening value for the 2016 financial year) that will now be distributed to shareholders under the new realisation policy. The latter are largely high growth companies bought (and still carried) inexpensively - weighted average YoY EBITDA growth for the six months to 30-Jun-16 for the eight buyout investments in JPEL’s top ten holdings was recorded at 38%, yet these same investments are carried at just 7.5x EV/EBITDA. These metrics help explain JPEL’s 15% NAV growth over the last six months.

JPEL’s AGM in October saw the passing of a resolution permitting mandatory redemptions at NAV - this will ensure the efficient return of capital to shareholders under JPEL’s realisation policy. Having recommended the appointment of Sean Hurst, an experienced closed-end fund investor, to the Board of JPEL, we were pleased to see Sean elected to
the board at the AGM.

[skyship] 31/10/2016 11:12

Sep'16 NAV declared - up 1c to $1.44

[jaws6] 21/10/2016 12:12

tboy
Thank you. please do try to get HVPE if you can. tks

[tiltonboy] 21/10/2016 10:28

 Late yesterday afternoon, JPEL Private Equity released its August NAV. It was a decent update with the August NAV increasing by 2.1% from July to stand at $1.43 per share. The drivers of the NAV growth was Innovia the producer of the UK’s new polymer £5 note. Innovia increased in value as the EBITDA for the June 2016 year-to-date period was 50% above the EBITDA for the prior year period. It is worth noting that Innovia also features in the Electra PE portfolio, as Electra co-invested £33m in the buyout from Candover in April 2014 (acquiring a 24% stake). Innovia represented 3% of Electra PE’s investment portfolio. During 2016, Innovia also sold its cellophane business to Futamura Chemicals, Japan’s leading manufacturer of plastic and cellulose films. Elsewhere, MTS Celerion has traded well too. The JPEL August NAV was c79% valued 30 June or later. JPEL received distributions of $9.6m in August with no capital calls.
 JPEL ($370m market cap) trades on a 23.5% discount. I think this presents an attractive opportunity given what is going on in the name as well as media speculation surrounding Datamars the second largest underlying holding, the animal tagging business.

[tiltonboy] 21/10/2016 10:07

jaws,

Yes, saw that. Numis also keen.

[jaws6] 21/10/2016 09:10

tboy hope you seen JPE buy note today from lib.
Yes datamars will be good if come soon

[tiltonboy] 21/10/2016 07:13

Of more interest was the distribution figure of $9.6m or 2.84c per share.

A sale of Datamars would be good news.

[skyship] 21/10/2016 07:00

NAV up another 2.1% at end August:
=================================

JPEL Private Equity Limited ("JPEL" or the "Company") has released the Company's Net Asset Value and Month End Review for the period ending 31 August 2016.

Please find detailed below the estimated net asset value per share for JPEL Private Equity Limited as at 31 August 2016: Ordinary Share Class - $1.43

[jaws6] 17/10/2016 09:32

and it goes better bid on your post !!

[tiltonboy] 17/10/2016 09:29

It's crazy that they can't be consistent with their NAV releases. They released two sets within 9 days last time!

Hopefully get news of the Tender as well.

[skyship] 17/10/2016 08:48

Tilts - have you asked them why they are so tardy with their monthly NAV statements?

# The last one was on 9th September for July NAV!

# HVPE today announced their September NAV!

Really no excuse; and could even create a bit of a false market...

[tiltonboy] 14/10/2016 12:40

SKYSHIP,

That's my thinking, so even though they are double what I started paying...I am still buying.

[skyship] 14/10/2016 12:23

Corporate Activity - so right, the SVI situation has really stirred the pot, so who knows - JPEL could well be a tasty morsel...

[jaws6] 13/10/2016 11:30

you might have to wait bit longer for that unless as you said bonus in 311 ?

[tiltonboy] 13/10/2016 09:58

Hopefully NOV and MAY for Tenders, repay the ZDP's in OCT 17, and then some serious repayments. If the NAV is up to $1.50 in the meantime, all the better.

What would be a nice bonus would be some corporate activity.

Would take $1.25 now for the lot!

[jaws6] 13/10/2016 09:38

tiltonboy
Tks. let's hope you right on them timing on tender.

[tiltonboy] 12/10/2016 11:16

Jaws,

Many thanks. As a holder for the last three years it looks as if I got my timing right on JPEL(formerly known as JHELL).

Should get news of the August NAV soon, and hopefully details of the first Tender.

[jaws6] 12/10/2016 11:00

sky agree what you said but HVPE got most $ earners which we can not buy or get involve otherwise like snapchat and few co on page 25 and 26
plus $£ still works in HVPE favour.
I hold both so does not matter .if either go up. But lot of action after SVI news

[skyship] 12/10/2016 10:48

Jaws - thnx for posting the HVPE link. I was reading through that just the other day and wondering whether their NAV growth stats (see P.10) are actually flattered versus peers as many pay out dividends each year.

HVPE pays no dividend and has no DCM in place.

Still, it was obviously undervalued a few weeks back, so took advantage - but now out as the discount moves to below 20%.

[jaws6] 12/10/2016 09:58

tiltonboy


pl click on middle Capital Markets Session 6 October 2016 .some real good info to read.
I got both JPEL and HVPE.