NAV increases by 1.3% in June

(LSE: PEYS/PEY)

Partners Group Private Equity Limited

NAV increases by 1.3% in June

·    NAV increased by 1.3% to EUR 14.38 per share; total net assets at EUR 994.45 million

·    Positive value creation (1.1%) and currency movements (0.7%)

·    NAV total return for six months to 30 June 2024 of 4.1%

·    PGPE Ltd received distributions in June of EUR 75.1 million

·    Revolving credit facility fully repaid, with cash and cash equivalents at 30 June 2024 of EUR 24.6 million

PGPE Ltd received distributions of EUR 75.1 million in June, of which EUR 70.2 million stemmed from the sale of SRS Distribution ("SRS"). SRS was sold to The Home Depot, the world's largest home improvement retailer, at an enterprise valuation of USD 18.25 billion. The transaction closed in June 2024. Based in the US, SRS is one of the largest distributors of roofing, landscaping, and pool supply products. Founded in 2008, SRS has grown via acquisitions and greenfield branch openings, while same-store sales growth benefitted from an expanding US property market and rising roof replacement demand. The company also expanded into several new distribution segments, including landscaping and swimming pools.

The remaining balance of EUR 4.9 million largely came from KinderCare Education, the largest for-profit provider of early childhood education and care services in the US, while EUR 0.9 million stemmed from the sale of a portion of the shares in AAVAS Financiers, an India-based housing finance company providing housing loans and related financing to low- and middle-income borrowers in semi-urban and rural areas, through an open market sale on the National Stock Exchange of India.

At portfolio level, International Schools Partnership ("ISP") was among the largest value drivers. The leading international K-12 schools group providing English and multi-lingual education is progressing well on its expansion plan and anticipates significant M&A activity in the near term. Partners Group continues to work with ISP's management and board on further building the business into a world class learning platform achieving the best student outcomes. ISP has also enjoyed continued organic growth and aims to scale the platform further, developing a unique selling proposition by augmenting education with artificial intelligence (AI) enabled technology. 

Further information is available in the monthly report, which can be accessed via: https://www.partnersgroupprivateequitylimited.com/en/investor-relations/financial-reports/

Ends.

About Partners Group Private Equity Limited

PGPE Ltd (formerly Princess Private Equity Holding Limited) is an investment holding company founded in 1999 and domiciled in Guernsey. It invests in private equity direct investments. PGPE Ltd is managed in its investment activities by Partners Group, a global private markets investment management firm with USD 149 billion in investment programs under management in private markets, of which USD 76 billion is in private equity. PGPE Ltd aims to provide shareholders with long-term capital growth and an attractive dividend yield. PGPE Ltd is traded on the Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).

Contacts

Partners Group Private Equity Limited:

[email protected]

www.partnersgroupprivateequitylimited.com

Registered Number: 35241   LEI: 54930038LU8RDPFFVJ57

Notes:

1.     Note that references in this announcement to Partners Group Private Equity Limited have been abbreviated to "PGPE Ltd" or "Company". References to Partners Group AG have been abbreviated to "Partners Group" or "Investment Manager".

2.     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 Private Equity 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.

3.     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. Neither the contents of PGPE Ltd' website nor the contents of any website accessible from hyperlinks on PGPE Ltd' website (or any other website) is incorporated into, or forms part of, this announcement.