09.03.2020 – Private Equity Holding AG

Net Asset Value as of February 29, 2020

Private Equity Holding AG / Key word(s): Monthly Figures
Net Asset Value as of February 29, 2020

09.03.2020 / 18:00



Zug, March 9, 2020

Net Asset Value as of February 29, 2020

As of February 29, 2020, the Net Asset Value (NAV) per share of Private
Equity Holding AG stood at EUR 90.15 (CHF 95.97), representing an increase
of 3.5% in EUR (3.1% in CHF) since January 31, 2020.

The NAV increase was driven by positive valuation adjustments in the direct
co-investments in Dupont Sustainable Solutions and Morgan Motor Company as
well as in several portfolio funds including Clarus III, Procuritas VI and
Pelion IV.

PEH received noteworthy distributions from ALPHA CEE II related to it
investments in Arx CEE III and Polish Enterprise VI, and from Sycamore II
distributing proceeds from Staples North American Delivery, a leading
distributor of office products and other workplace supplies to businesses
across the US and Canada, and The Limited, a women's apparel and accessories

In the reporting month, PEH committed USD 1.3m to a follow-on investment in
Acino Holding, a Swiss pharmaceutical company.

Private Equity Holding will continue its investor relations activities with
group presentations in Zurich. Interested parties may register at


Private Equity Holding AG (SIX: PEHN) is a listed investment company for
private equity investments. It offers institutional and private investors
the opportunity to participate in a simple and tax-efficient manner in a
diversified and professionally managed private equity portfolio with
selective fund and direct investments.

Income from the portfolio is partially reinvested, as well as passed on to
the shareholders as annual distributions. Private Equity Holding's portfolio
is managed by Alpha Associates, an independent Private Equity, Private Debt
and Infrastructure investment manager based in Zurich.

For further information, please contact:
Anna Knaub, Investor Relations, anna.knaub@peh.ch, phone +41 41 726 79 80,

The basis of the Net Asset Value Calculation and Disclaimer

The number of outstanding shares used for calculation of the Net Asset Value
per share amounted to 2,603,427 as of February 29, 2020 (January 31, 2020:
2,604,559). The calculations are prepared in accordance with International
Financial Reporting Standards (IFRS) and pursuant to the guidelines of
Invest Europe (formerly known as the European Venture Capital Association).
The valuations of the fund investments are based on the most recent reported
net asset values (NAVs) of the funds. In estimating the fair value of
unquoted direct investments, Private Equity Holding AG considers the most
appropriate market valuation techniques. The fair value of listed direct
investments is the market value. The NAV of Private Equity Holding AG is
calculated at the end of each month under a going concern assumption and
usually published within six trading days after the cut-off date. The
different reporting cut-off dates of the individual companies and funds in
which participations are held can lead to short-term distortions and cause
discrepancies between the published NAV and the actual total value of
Private Equity Holding AG's net assets.