10.01.2020 – Private Equity Holding AG

Net Asset Value as of December 31, 2019

Private Equity Holding AG / Key word(s): Monthly Figures
Net Asset Value as of December 31, 2019

10.01.2020 / 18:00



Zug, January 10, 2020

Net Asset Value as of December 31, 2019

As of December 31, 2019, the Net Asset Value (NAV) per share of Private
Equity Holding AG stood at EUR 86.38 (CHF 93.90), representing a decrease of
1.1% in EUR (2.4% in CHF) since November 30, 2019.

The negative NAV performance in December was largely caused by adverse
movements in the USD/EUR exchange rate.

PEH's portfolio was cash flow positive, with the biggest distribution
received from ABRY Capital Partners Fund VIII, following the sale of The
Hilb Group, based in Richmond, Virginia, a leading property and casualty
insurance and employee benefits broker serving predominantly small to
medium-sized businesses across the East Coast of the U.S.

Another noteworthy distribution came from Warburg Pincus Fund X and IVP Fund
XIII, distributing shares of CrowdStrike, a leading, next-generation,
cloud-delivered endpoint security platform based in California that provides
a full suite of offerings around endpoint security.

Private Equity Holding will continue its investor relations activities in
2020. Interested parties may subscribe to the newsletter at
www.peh.ch or 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 2,604,859 as of December 31, 2019 (November 30, 2019:
2,606,154). 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.