10.02.2020 – Private Equity Holding AG

Net Asset Value as of January 31, 2020

Private Equity Holding AG / Key word(s): Monthly Figures
Net Asset Value as of January 31, 2020

10.02.2020 / 18:00



Zug, February 10, 2020

Net Asset Value as of January 31, 2020

As of January 31, 2020, the Net Asset Value (NAV) per share of Private
Equity Holding AG stood at EUR 87.14 (CHF 93.07), representing an increase
of 0.9% in EUR (a decrease of 0.9% in CHF) since December 31, 2019.

The NAV increase results from positive valuation adjustments in several
portfolio funds including Warburg Pincus X, Pelion IV and other venture
funds including a position in the Emerging Manager Program. The development
was supported by positive FX movements.

PEH's portfolio was cash flow positive with total distributions amounting to
EUR 2.2m. The biggest distribution was received from Capvis Equity Fund III
from the sale of Ondal Holding GmbH, a world market leader in the production
of pendant systems for medical applications headquartered in Germany.

In the reporting month, PEH committed USD 1.5m within the Emerging Manager
Program to a venture fund focusing on early-stage investments in Europe.

Private Equity Holding will continue its investor relations activities with
a lunch presentation on February 26, 2020, in Zurich. Interested parties may
register at info@peh.ch.


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 2,604,559 as of January 31, 2020 (December 31, 2019:
2,604,859). 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.