Private Equity Share Discussion Threads

[skyship] 11/8/2016 07:04

A good final rsult for PEQ shareholders - 167p...and in short order;

[nk104] 04/7/2016 17:16

Got out a couple of months back as was raising some money for more LXB and PEQ seemed an obvious one to cull.

It's the casual way the announcement says 35 per cent discount to NAV that gets me. Which idiot or set of idiots valued it - either then or now!

[skyship] 04/7/2016 10:57

PEQ has been a bit of a sector basket case for quite some time. Today's news seems to confirm that; whilst taking the NAV to below the current share price Sell before the Market wakes up!
==========================

04 July 2016

Private Equity Investor plc

Portfolio Proposal

The Board of Private Equity Investor PLC ("the Company") announces that it has received a proposal to acquire 15 of its Limited Partnership ("LP") investments or approximately 87% of the NAV of the investment portfolio of the Company. The proposal is priced at a 35% discount to the net asset value of these holdings at 31 December 2015. The proposal is before expenses and subject to adjustment for distributions to, and capital calls from, the Company between 31 December 2015 and the closing date of the transaction. Unrestricted cash at calendar year-end totalled approximately GBP3.6 million ($4.8 million) and total restricted cash was approximately GBP3.0 million ($4.0 million). The LP assets not subject to the proposal totalled GBP2.5 million ($3.3 million) at the Company's year-end and include one Fund currently valued at GBP1.6 million ($2.1 million) which is subject to sale restriction. The Company will continue to progress negotiations and consult with significant Shareholders. In the absence of other, better alternatives, the Board intends to proceed with the sale.

[nk104] 14/4/2016 14:17

Hopefully there will be another redemption in May. Think I will sell after that.

[skyship] 14/4/2016 06:19

Looks to me as though these will continue to drift. NAV discount @ 21.5% versus an average of over 27% for their peers.

[skyship] 14/4/2016 06:16

14 April 2016

PRIVATE EQUITY INVESTOR PLC

Private Equity Investor PLC (the "Company") announces an unaudited Net Asset Value ("NAV") at 31 March 2016 (the "Reporting Date") of 214.14 pence (US 307.89 cents) per share, which includes the current period deficit and incorporates the most recently available valuations of the Company's private equity fund investments (the "Funds") referred to below. The exchange rate at which the NAV was calculated was GBP=US$1.4378.

[nk104] 14/12/2015 17:43

Presumably if it follows the same pattern as last year they'll go for a redemption in May at NAV, and the price will fall away afterwards.

Must admit I bought for the last tender, but stupidly held on afterwards (and have kept holding). At the small holding level I have it doesn't matter much, but losing money is never appealing.

[skyship] 14/12/2015 12:16

rm - Private Equity tends to be a sector frequented by experienced investors only - even then only rarely. Still, go for it; as after all it is really just a specialist and out-performing segment of the Trust sector.

How to start?

Well, read through the Private Equity thread (link below); and also read through the Investor Presentations recently mentioned on the JPEL and NBPE threads...

[rm_1987] 14/12/2015 11:59

New to this, help me

[skyship] 14/12/2015 11:52

14 December 2015

The Company announces that the Net Asset Value ("NAV") at 30 November 2015, including the current period deficit and incorporating the Limited Partnership portfolio valuations referred to below was:

211.90 pence (US 318.97 cents) per share*

The exchange rate at which this was calculated was GBP=US$1.5053

[praipus] 30/11/2015 09:42

Of course and $7.9m not 7.4 apologies.

[skyship] 28/11/2015 09:53

P - that's $, not £. I would have thought they would want a bit more in the coffers before calling the next Tender - perhaps next Summer. Though at that stage, bearing in mind the much reduced size of PEQ, there has to be a possibility of near-term liquidation through sale of the portfolio to another PE trust.

"PEI's cash and readily realisable assets totalled $7.9 million (GBP5.2 million) compared with $15.6 million (GBP10.5 million) at 31 March 2015"

With that in mind PEQ could be on my BUY WATCH list shortly; though the currency aspect has to be constantly borne in mind!

[praipus] 27/11/2015 20:04

M&A and IPO's look a lot lower. Still 263 chances of something exceptional but with only one IPO flagged could be less likely than I thought originally.

Selftrades change to Equiniti meant I missed the last tender so this is not a profitable place for me. You probably got my allocation Skyship:)

However £7.4m of liquid assets are we due another tender here?

[skyship] 27/11/2015 12:39

This dog trading lower (180p-181p) as the Cable rate spares its blushes somewhat. At today's 150.7 rate the £NAV has actually increased to 215.4p! Discount now at 16%.

Incidentally - re Post No.355 above - LMS up on the Tender news today.

[skyship] 12/11/2015 08:03

The Company announces that the Net Asset Value ("NAV") at 31 October 2015, including the current period deficit and incorporating the Limited Partnership portfolio valuations referred to below was:

210.25 pence (US 324.68 cents) per share*

The exchange rate at which this was calculated was GBP=US$1.5443

[skyship] 14/10/2015 12:15

NAV down again (-0.6%) in Sept.; though again saved in £Sterling terms (+0.8%) by the strong US$:

219.2 pence (US 332 cents) per share*



These remain an out & out sell; and any capital loss from doing so can readily be recovered by buying LMS at 74p ahead of imminent Tender news...

[skyship] 14/9/2015 17:13

NAV down again (-0.9%) in August; though saved in £Sterling terms (+0.6%) by the strong US$:

217.31 pence (US 334.22 cents) per share*

[skyship] 14/8/2015 08:34

NAV extremely disappointing @ 216.03p. Makes these an out & out sell as the discount at 190p now a mere 12%!

[alanji] 27/4/2015 16:53

Now credited 20.9% allocation

[alanji] 27/4/2015 15:13

How many did you get AA29, assuming you tendered all

[aa29] 27/4/2015 14:21

Yes, unsold shares back in my Hargreaves Lansdown account

[alanji] 27/4/2015 14:02

Accounts should be credited today - anyone received them? Nothing yet in AJ Bell

[skyship] 19/3/2015 13:45

This year's tender - c.19% @ c233p:

"As at 28 February 2015, the Company had approximately GBP10.3 million in cash and readily realisable assets. The Company intends to distribute to Shareholders GBP6.7 million of such amount. The remainder of the cash and readily realisable held by the Company will be retained, comprising GBP3.0 million which is required to be set aside to meet existing commitments to portfolio funds and a further GBP0.6 million which will be available as required to fund ongoing operations.

The Net Asset Value of the Company (unaudited) as at 28 February 2015 was
GBP34.7 million (234.09p per Share). The NAV of the Company (and per Share) is
calculated on a consolidated group basis (i.e. which takes into account Campton
Group Inc the Company's wholly owned subsidiary). If the Tender Offer is taken
up in full, it will amount to a distribution of 19.3 per cent. of the Company's
net assets as at 28 February 2015."

[skyship] 13/2/2015 11:58

P - PEQ is of course a "Fund of Funds" vehicle, so not holding and profiting from direct investments in the way IPO does...