Key Takeaways
- • Private Equity Holding AG (SIX: PEHN) reported a NAV per share of EUR 161.44 (CHF 148.47) as of October 31, 2026, up 0.5% in EUR and down 2.5% in CHF since September 30, 2026.
- • Portfolio performance was positive in October, driven mainly by favourable FX movements and gains from selected holdings including TA Associates XIII.
- • The portfolio was cash flow positive, with EUR 3.2m in distributions received against EUR 3.0m paid in.
- • Notable distributions came from Abry Senior Equity VI (proceeds from the sale of NetNumber to TNS and a strategic fundraising consulting firm) and Abry Heritage Partners (proceeds from CloudWave following its acquisition by Tegria).
- • The company bought back 933 shares during the period; shares outstanding were 2,400,740 at October 31, 2026, versus 2,401,673 at September 30, 2026.
Summary
Private Equity Holding AG (PEH), a Zurich-listed investment company offering institutional and private investors exposure to a diversified private equity portfolio, reported in a news release dated November 11, 2026 that its net asset value per share stood at EUR 161.44 (CHF 148.47) as of October 31, 2026. The NAV rose 0.5% in euro terms over the month but fell 2.5% in Swiss franc terms since September 30, 2026, a divergence the release attributes to currency movements.
According to the company, portfolio performance was positive in October, mainly driven by favourable FX movements alongside gains from selected portfolio investments, with TA Associates XIII named as a contributor.
The portfolio was cash flow positive during the period, with total distributions of EUR 3.2m compared with EUR 3.0m paid into the portfolio. PEH received a notable distribution from Abry Senior Equity VI, which returned proceeds from two transactions: the sale of a strategic fundraising consulting firm and the sale of NetNumber, a global provider of phone number intelligence and telecommunications data services, to Transaction Network Services (TNS). A further inflow came from Abry Heritage Partners, which distributed proceeds from its investment in CloudWave, a managed cloud hosting, cybersecurity and IT services provider serving the healthcare industry, following its acquisition by Tegria.
PEH continued its share buyback programme during the reporting period, repurchasing 933 shares. The number of outstanding shares used in the NAV calculation was 2,400,740 at October 31, 2026, down from 2,401,673 at September 30, 2026.
The calculation follows IFRS and Invest Europe guidelines. Fund investments are valued based on the most recent reported NAVs of the underlying funds, unquoted direct investments are valued using market-based techniques, and listed direct investments at market value. The release cautions that differing reporting cut-off dates among underlying funds and companies can cause short-term discrepancies between the published NAV and the actual total value of PEH's net assets. The portfolio is managed by Amundi Alpha Associates, a Zurich-based independent private equity, private debt and infrastructure manager.
According to the company, portfolio performance was positive in October, mainly driven by favourable FX movements alongside gains from selected portfolio investments, with TA Associates XIII named as a contributor.
The portfolio was cash flow positive during the period, with total distributions of EUR 3.2m compared with EUR 3.0m paid into the portfolio. PEH received a notable distribution from Abry Senior Equity VI, which returned proceeds from two transactions: the sale of a strategic fundraising consulting firm and the sale of NetNumber, a global provider of phone number intelligence and telecommunications data services, to Transaction Network Services (TNS). A further inflow came from Abry Heritage Partners, which distributed proceeds from its investment in CloudWave, a managed cloud hosting, cybersecurity and IT services provider serving the healthcare industry, following its acquisition by Tegria.
PEH continued its share buyback programme during the reporting period, repurchasing 933 shares. The number of outstanding shares used in the NAV calculation was 2,400,740 at October 31, 2026, down from 2,401,673 at September 30, 2026.
The calculation follows IFRS and Invest Europe guidelines. Fund investments are valued based on the most recent reported NAVs of the underlying funds, unquoted direct investments are valued using market-based techniques, and listed direct investments at market value. The release cautions that differing reporting cut-off dates among underlying funds and companies can cause short-term discrepancies between the published NAV and the actual total value of PEH's net assets. The portfolio is managed by Amundi Alpha Associates, a Zurich-based independent private equity, private debt and infrastructure manager.
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