31년 2023월 XNUMX일 NAV 추정
abrdn 사모펀드 기회 신탁 plc
법인식별기호(LEI): 2138004MK7VPTZ99EV13
15 11월 2023
abrdn 사모펀드 기회 신탁 plc ("APEO" or "the Company") announces its estimated net asset value ("NAV") at 31 October 2023
· Estimated NAV at 31 October 2023 was 767.6 pence per share (estimated NAV at 30 September 2023 was 769.4 pence per share), a 0.2% decrease from the month of September
· Excluding new investments, 100.0% by value of portfolio dated 30 June 2023 (estimated NAV at 30 September 2023 was 100.0% dated 30 June 2023)
· 4.0년 27월 2023일에 지급된 주당 XNUMX펜스의 세 번째 중간 배당금
· APEO paid £8.3 million of drawdowns to existing commitments and received £2.5 million of distributions from fund investments during the month of October
· One new primary fund commitment and one new co-investment made in October
· 674.3년 31월 2023일 기준 XNUMX억 XNUMX만 파운드의 미결제 약정
· 유동성 자원(현금 잔고와 미인출 신용 시설)은 £219.2 million as at 31 October 2023
APEO's valuation policy for private equity funds and co-investments is based on the latest valuations reported by the managers of the funds and co-investments in which the Company has interests. In the case of APEO's valuation at 31 October 2023, excluding new investments, 100.0% by value of the portfolio valuations were dated 30 June 2023. The value of the portfolio is therefore generally calculated as the 30 June 2023 valuation, adjusted for subsequent cashflows over the period to 31 October 2023.
This is substantially unchanged from the estimated NAV at 30 September 2023, whereby 100.0% of the portfolio valuations, excluding new investments, were also dated 30 June 2023, adjusted for subsequent cashflows over the period to 30 September 2023.
예상 NAV
At 31 October 2023, APEO's estimated NAV was 767.6 pence per share (estimated net assets £1,180.1 million), representing a 0.2% per share decrease from the estimated NAV at 30 September 2023 of 769.4 pence per share (estimated net assets £1,183.0 million). The 1.8 pence decrease in NAV per share reflected the third interim dividend payment of 4.0 pence per share on 27 October 2023 at a total cash cost of £6.1 million. This was partially offset by gains arising from a 0.4% appreciation in the euro versus sterling and a 0.6% appreciation in the dollar versus sterling during October.
드로다운 및 분배
APEO paid £8.3 million of drawdowns to existing commitments and received £2.5 million of distributions from fund investments and during the month of October. Including the funding of a new co-investment, total net outflows from investment activity during October amounted to £11.6 million.
해당 기간 동안 손실은 주로 새로운 기본 포트폴리오 회사 투자 및 관리 수수료를 조달하기 위한 APEO의 여러 펀드 투자에서 발생했습니다.
받은 분배금은 1.6만 파운드의 실현 이익과 소득을 창출했습니다.
As communicated in the September announcement, APEO also received proceeds of ?34.6 million during October following a partial realisation of Action which was completed during September.
투자 활동
A new primary commitment of ?30.0 million was made to IK X, a fund focusing primarily on investing in lower middle market businesses in Northern Continental Europe across Business Services, Consumer/Food, Healthcare and Industrials.
A ?6.0 million co-investment was made alongside IK Partners into an undisclosed company, which is a leading manufacturer of frozen snacks in Europe, with a diversified business mix across Retail, Out-of-Home and Industry.
약속
674.3년 31월 2023일 현재 회사는 97.8억 XNUMX만 파운드의 미결제 약정을 보유하고 있습니다. 관리자는 회사의 기존 미결제 약정 중 약 XNUMX만 파운드가 인출될 가능성이 낮다고 믿습니다.
신용 시설 및 현금 잔액
The Company has a £300.0 million syndicated revolving credit facility provided by The Royal Bank of Scotland International Limited, Societe Generale and State Street Bank International GmbH, and it expires in December 2025. The Company repaid a total of £8.7 million to the credit facility during the month of October, reducing the total drawn balance to £94.1 million at 31 October 2023. The remaining undrawn balance of the facility at 10월 31 2023 따라서 £ 205.9 백만이었습니다.
또한 회사는 13.3만 파운드의 현금 잔액을 보유하고 있었습니다. 31년 2023월 XNUMX일. Liquid resources, calculated as the total of cash balances and the undrawn balance of the credit facility, were therefore £219.2 million as at 31 October 2023.
관리자에서 업데이트
Private Equity merger & acquisition ("M&A") activity in 2023 has been relatively subdued when compared to levels seen in recent years and this has impacted the cashflows of APEO's portfolio of investments. October was no different in this regard, with particularly low levels of distributions from APEO's fund investments (£2.5 million), albeit drawdowns were relatively modest too (£8.3 million), with the drawdown figure also including amounts for the repayment of underlying fund credit facilities that were used to finance investments originally made in 2022.
APEO's proactive partial realisation of its direct co-investment in Action has proven to be helpful from a cash perspective at this point in the market cycle. We would note that the disposals of Action shares have been achieved at 100% of its most recent quarterly valuation and it remains APEO's largest underlying portfolio company at c.2.0% of the value of the portfolio at 31 October 2023.
On the new investment side, APEO has made two new investments with IK Partners during the month, with both a fund commitment and a direct co-investment. The relationship between IK and APEO stretches back over two decades, with IK's focus on mid-market buyout transactions in Northwestern Europe very much aligned with APEO's long-term investment strategy.
Lastly, from a balance sheet perspective, we continue to believe that APEO is well positioned, with £219.2 million of liquid resources available. Outstanding commitments of £674.3 million equate to an overcommitment ratio[I] of 38.6%, at the lower end of our target range of 30-75%.
We look forward to providing an update on performance in next month's November estimated NAV announcement, when we expect a large portion of the portfolio valuation to be revised and dated 30 September 2023.
향후 발표
회사는 30년 2023월 18일 또는 2023년 XNUMX월 XNUMX일경에 예상 NAV를 발표할 예정입니다.
APEO의 NAV 및 투자 다각화에 대한 자세한 내용은 APEO 웹사이트에서 확인할 수 있습니다. 회사 웹사이트의 내용이나 회사 웹사이트의 하이퍼링크를 통해 액세스할 수 있는 웹사이트의 내용은 이 발표에 통합되거나 그 일부를 구성하지 않습니다.
자세한 내용은 abrdn Capital Partners LLP(0131 528 4424)의 Alan Gauld에게 문의하십시오.
노트:-
abrdn Private Equity Opportunities Trust plc는 abrdn Capital Partners LLP가 관리하는 투자 회사로, 그 보통주는 영국 상장 당국에 의해 상장되고 증권 거래소에서 거래가 허용되며 다음 자격을 갖추도록 업무를 수행합니다. 1158년 법인세법 섹션 1165-2010에 따른 투자 신탁. Board of the Board of Private Equity Opportunities Trust plc는 abrdn plc 및 Phoenix Group Holdings와 독립적입니다.
회사는 매월 말 이후 영업일 기준 XNUMX일 정도에 정기적인 예상 NAV 업데이트를 발표할 예정입니다. APEO의 포트폴리오 분석은 다음 APEO 웹사이트에 게시된 최신 월간 자료에서 확인할 수 있습니다.
www.abrdnpeot.co.uk
[I] Outstanding commitments less cash and cash equivalents and undrawn loan facilities divided by estimated net assets.
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.