Private Equity Share Discussion Threads

[praipus] 17/11/2010 15:11

These are the only ones I could find,I'm considering a Weiss Asset Management followers thread what do you think?

PEQ,CASA,REH,POL,SRE,CED2,SAPO,JAC,TRC,CPT,MVI,TAU,SIGG,MWJ,RRF,TIC

The some of these are in corporate action or untradeable or close to NAV or for some reason need extra research
ARCH,MJT,BKSA,ARCH,CMAE,AUR,ACP

[mangal] 17/11/2010 14:55

Unfortunately I'm not aware of their current holdings. I think u mentioned a list on the JDT thread recently & I recall CED2 was the only other one I held.
[edit: do you have a recent list of their holdings?]

[praipus] 17/11/2010 14:15

If only it were that simple now. Are you in any other Laxey, QVT or Weiss investments?

[mangal] 17/11/2010 13:48

The veterans on the original JDT thread know all about these guys. If you had followed them[edit: both the veterans & Wiess et el] during the split-IT doom & gloom days, you'd have made lots of money.

[praipus] 17/11/2010 13:44

Keep seeing Laxey & QVT & Weiss/Brookdale on major shareholder lists for funds with share price discount to NAV and or less than a year or so to run to liquidation.

[mangal] 17/11/2010 13:32

I used to hold these quite a long time ago and sold out a few years back at a small profit but have been tracking them ever since. Bought some back recently. If I remember correctly, Laxey & QVT have been holders here from those early days & so I guess they expect that value will come through eventually; they have waited long enough !

[praipus] 17/11/2010 11:50

Hi Mangal, may I ask how these appeared on your radar?

[mangal] 17/11/2010 10:52

Value will eventually come through; hope we don't have to wait too long.

[praipus] 17/11/2010 10:31

PEQ at 38.8% discount and 500 possibilities of another mega IPO still seems too cheap to me.

[praipus] 21/10/2010 12:43

CASA looks quite interesting its trading 10% or so below NAV but has a shareholder redemption facility. It's a fund of hedge funds and private equity in Asia so not the same as PEQ but the redemption facility gives a cash exit to those share holders that need it.

As markets pick up I wonder if the larger PEQ share holders might revoke their desire to exit and ask the management to accept/attract new funds and investments?

[praipus] 08/10/2010 11:59

528 chances of another Baidu and cash or NAV back while you wait.

[hieronymous1] 08/10/2010 11:34

Yes. This may or may not happen as circumstances change. Investment trusts frequently do wind up as a way of bridging the gap between share price and net asset value. This is often very profitable for shareholders. I think we are in a win-win situation here.

[praipus] 08/10/2010 11:16

Did you know PEQ is trying to wind up?

"Business of the Company
The principal activity of the Company is to carry on business as an investment
trust in accordance with its investment objective and policy. The Directors do
not envisage any change to this activity in the future.
The Company has a portfolio of Venture and Development Capital Funds to which
it has made capital commitments, some of which remain to be drawn down. The
Company will honour these commitments and will continue to receive
distributions in cash and in specie from the Funds. It does not, however,
currently intend to enter into any new commitments and it is the Company's
intention to make periodic returns of capital to shareholders when monies are
received from the Funds. As noted below, Campton Group, Inc. in which the
Company has conversion rights that would allow it to hold a majority stake, is
developing a fund-of-funds management and advisory business that, if
successful, would continue beyond the liquidation of the portfolio"

[praipus] 08/10/2010 09:36

Utilico have a holding in REH which perked up when Weiss Asset Management bought 15.5% highlighting the share price is far below asset value. Using I had a snoop to see what else Weiss is invested in. I think they have about 5% here. I like the PEQ logic 500 companies at early stages from our perspective only a few need to be as successful as Baidu or Skype to pay for all the rest and give us a dividend or shar buy back from time to time.

PCT and RTT seem to trade near NAV.

[hieronymous1] 07/10/2010 22:42

PEQ has no other classes. Utilico and Ecofin are both decent enough - I was in and out of Ecofin at a profit a while back. I like the general story of infrastructure and especially water. HPEQ is a special case and Skyship knows more than I do.

My interest in PEQ was aroused by the Citywire article. I then looked it up in the usual places - the company website, the FT, IC, Advfn, Motley Fool, iii, Google Finance and Yahoo! Finance. What I found encouraged me to proceed. I cannot now recall which of those sites had any information but the procedure is my standard.

I keep a long list of ideas gleaned from all sources which I comb through every few months to confirm or eject so that when I have the cash to invest there are always candidates. I use Sharescope for data mining. It all depends on how much time you have and what suits your personality. I do not spend much time with technical analysis.

[praipus] 07/10/2010 15:21

On the JDT Split followers thread Skyship has been suggesting HPEQ may be worth considering. I like UTL and ECWO all at monty discounts.

[praipus] 07/10/2010 13:30

Thanks again. I hadnt realised PEQ has Investment Trust status. Are there any other classes of equity? Warrants, zero's, CULS etc? Couldnt see any mentioned on the AIC site.

Your timming was good I bought yesterday! NAV £2.18 now. What made you buy?

[praipus] 07/10/2010 12:07

Has PEQ always traded at a such a large discount to NAV?

[praipus] 07/10/2010 11:50

Thanks again, this is a very interesting fund I'm surprised it's not better known.

I trialed sharescope and I like it but at the time I was looking for something that could manage futures positions and back testing so I chose Tradingblox instead. Sharescope was very good for filtering stocks, news feeds and T/A.

[hieronymous1] 07/10/2010 09:55

I track the underlying through Sharescope investment software which includes the Dow Jones news feed. You can also get DJ through the London Stock Exchange website although the search function is not as good.


I got the Baidu and Skype stories from Citywire which sends me updates several times a day.

If you want to see the original references on the PEQ website it is quicker to use Google searches with the syntax:

site: www.peiplc.com baidu

and

site: www.peiplc.com skype

[praipus] 07/10/2010 09:17

Thanks. I'm new to these are the Baidu and Skype stories on the website or had you picked up on them through the RNS here? Do you track the underlying?

[hieronymous1] 06/10/2010 18:25

Yes, in so far as the valuation of the underlying assets is correct. Anything to do with the value of unquoted investments is a matter of judgement. Given the history of good judgement with Baidu and Skype, I will go with the management.

[praipus] 06/10/2010 17:21

Is the share price here really at a 40% discount to assets?