Share Name Share Symbol Market Type Share ISIN Share Description
JZ Capital Partners LSE:JZCP London Ordinary Share GG00B403HK58 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 509.50p 505.00p 514.00p 509.50p 509.50p 509.50p 894 07:47:44
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 20.8 5.1 5.4 101.4 427.51

JZ Capital Partners Share Discussion Threads

Showing 101 to 124 of 125 messages
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DateSubjectAuthorDiscuss
07/11/2017
13:09
I'm in the JZCC convertibles so I hope the same!
davebowler
06/11/2017
09:23
dave: Thanks for above post - Only wish the discount will narrow -
pugugly
06/11/2017
09:19
Liberum; JZ Capital Partners (Mkt Cap £425m) €70m proceeds from Spanish asset realisation Event JZ Capital Partners (JZCP) has agreed the realisation at NAV of its majority equity interest in Factor Energia S.A. (Factor), held through the EuroMicrocap Fund 2010, L.P. The transaction enterprise value was approximately €120m. Factor is being acquired by a public-sector asset manager, on behalf of a major Canadian pension fund. As part of this transaction, JZI Fund III, L.P. (Fund III), in which JZCP is an approximately 18.8% limited partner, has agreed to invest €20m alongside the majority owner and Factor management, representing approximately 25% of the business’ fully diluted equity ownership. Under JZCP’s ownership, Factor grew its customer base from approximately 4,000 to 45,000 and reported revenues from approximately €68m to more than €370m. JZCP invested a total of approximately €7.6m in Factor and is expected to receive total gross proceeds (before carry) of approximately €69.7m from the sale (including deferred payments and interim distributions received over the course of the investment), representing a gross multiple of invested capital of approximately 9.2x and a gross IRR of approximately 42.3%. Across the six Spanish portfolio companies it has sold to date (including Factor), JZCP has realized approximately €144.9m on an investment of approximately €60m. These six transactions represent a gross multiple of invested capital of 2.4x and a gross IRR of 23.2%. JZCP is still highly committed to the Spanish region. Liberum view This transaction represents 8.3% of JZCP's pro-forma NAV of $9.98 (estimated after the sale of Nielsen-Kellerman and K2 Towers). JZCP is trading at a 33.6% discount to its pro-forma NAV, compared to a peer group average discount of 20.1%. UK Real Estate
davebowler
06/7/2017
07:42
Steven - am inclined to agree, but counter to that we've still a big nav discount (and a tightening Fed should strengther USD vs GBP), the market is thin so buybacks may be quite effective, and in any case they haven't bought any yet! I'll wait and see.
jonwig
06/7/2017
07:26
Sold out yesterday . 1 If they regard the current market conditions as challenging then how are they going to cope in a downturn 2 Lack of transparency in their property portfolio which could allow fees to be syphoned off. 3 Overall repeated poor performance. 4 Unhappy with the share buy backs instead of dividends.
stevenlondon3
29/6/2017
09:37
Yes, performing very poorly. NAV performance has been very disappointing despite a boom US market.
topvest
29/6/2017
06:37
IMS: Http://www.investegate.co.uk/jz-capital-ptnrs-ltd/prn/q1-2017-interim-management-statement/20170629070000PC204/ NAV fallen to $9.93, mainly a couple of holdings writedowns: Factor Energia (Spain, energy supply. Can't find any relevant news.) Spruceview (US investment managers. Again can't find anything.) AGM on Tuesday passed all resolutions, including share buybacks in lieu of dividends. How aggressive will they be, given a 26% nav discount?
jonwig
01/6/2017
12:32
hTTp://www.jzcp.com/media/99040/JZCP-March-Factsheet-FINAL.pdf
davebowler
20/4/2017
07:53
STEVEN - as I understand them the rules say all shareholders must be treated equally. This means either market buy-backs or proportional return of capital. Since they are using ongoing profits to buy back shares, the former looks more likely.
jonwig
20/4/2017
07:36
Will the share buy backs be in the market or will it be used as an avenue for the big shareholders to reduce holdings by arranged deals?
stevenlondon3
20/4/2017
06:48
jonwig: That is what it appeared to be from the "Following the review, which included consultation with the Company’s largest Shareholders" Market is so illiquid that I suspect the larger shareholders were/are effectivly locked in.
pugugly
20/4/2017
06:31
PUG our posts crossed! So institutional holders may have forced this? You could be right ...
jonwig
20/4/2017
06:28
New distribution policy: http://www.investegate.co.uk/jz-capital-ptnrs-ltd--jzcp-/prn/discontinuation-of-dividend-policy-and-new-stra---/20170420070000P9185/ Dividends suspended. Profits to be used for share buybacks in order to reduce discount. So in theory I'll get a higher share price rather than a handy USD dividend. The market in the shares is fairly thin, but a sustained rise might be thwarted by selling. No idea what the market's reaction will be, but the 30% discount to NAV will take a bit of closing.
jonwig
20/4/2017
06:28
Dividend suspended - buy back initiated - Big holders appear to have forced through - Subject to level paid for buy back might be OK but will have to see reaction from Mr Market - Personally unhappy - http://www.investegate.co.uk/jz-capital-ptnrs-ltd/prn/discontinuation-of-dividend-policy-and-new-stra---/20170420070000P9185/
pugugly
31/1/2017
16:09
HTtp://www.jzcp.com/media/96633/jzcp-december-factsheet-final.pdf
davebowler
26/10/2016
06:53
Interim results: Http://www.investegate.co.uk/jz-capital-ptnrs-ltd--jzcp-/prn/dividend-declaration/20161026070100PC061/ Very satisfactory progress, dividend 15.5c, which I receive in USD.
jonwig
15/10/2016
16:19
OK fair point - will take a look.
topvest
15/10/2016
14:28
I'd agree they haven't been spectacular, and I think they did a dilutive equity issue last year which wasn't popular. But everything has its price, and a return of over 25% in under 6 months is satisfactory! I think PE is getting more interest from investors and the discount here is still higher than most. The fact that its assets are almost all EUR and USD is an important thing, too.
jonwig
14/10/2016
20:41
Yes, performance has been poor in recent years though. NAV rises have been pedestrian given the strong economy particularly in the US.
topvest
14/10/2016
09:17
End-July NAV was unchanged at $10.41. using current FX rate (1.22) this equates to 853p. With some recent disposals coming in above carrying value that looks conservative. Discount 41% still gives space for upside.
jonwig
21/7/2016
06:41
During June 2016, the NAV increased by 9 cents (or 0.9%) from $10.32 at 31 May 2016 to $10.41 at 30 June 2016. This was driven by FX gains of 10 cents and investment gains of 3 cents offset by net expense/finance costs of 4 cents. So 788p at current fx, or 45% discount. Even after the recent good run.
jonwig
07/7/2016
14:09
Is there a more positive attitude to PE as a neglected asset class in the current climate? Smaller companies might be less affected by macro issues, and the prospect of lower interest rates for years to come won't harm. A monthly NAV statement is due for May, but it's doubtful they can be over-optimistic.
jonwig
20/6/2016
10:02
deadly - I think it's rather out of favour, as with a lot of other PE funds. The big drop last year was down to an equity fundraising which was pretty dilutive, I think. Gearing will be lower next week, of course. The yield of over 5% is a decent compensation for waiting around!
jonwig
20/6/2016
09:27
Looks exceptionally good value, but must be a catch? Investment in microcaps and property in the US is perhaps a risk but not enough to warrant the discount. And the gearing will reduce soon when the zeros are redeemed.
deadly
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