Title: Partners Group Private Equity Limited URL Source: https://is.gd/wiTRkF Published Time: Wed, 12 Mar 2025 13:03:23 GMT Markdown Content: # PARTNERS GROUP PRIVATE EQUITY LIMITED > Monthly report as of 31 January 2025 # Monthly NAV performance (total return) Year Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan 12.9% 1.8% 0.6% 0.3% 1.8% 2.1% 0.0% 1.3% 2.1% 2.0% 1.2% 0.1% -1.1% 2016 11.2% 1.1% -0.5% 0.4% 1.8% -0.2% -0.4% 1.6% 0.0% 1.1% 2.7% 2.1% 1.0% 2017 6.8% -1.6% -0.2% -0.6% 2.1% 0.2% 1.1% 2.7% 0.2% 0.8% 0.7% 1.0% 0.2% 2018 21.1% 5.7% 0.5% -0.4% 4.2% -0.2% 0.4% 2.3% 0.8% 0.6% 3.0% 1.8% 0.7% 2019 10.0% 3.1% 3.1% -0.8% 3.8% 3.1% 2.3% 2.9% 3.0% 5.6% -14.1% -1.0% 0.2% 2020 19.4% -0.8% -0.4% 0.8% 0.9% 1.1% 0.6% 4.8% 1.2% 1.5% 7.3% 0.9% 0.1% 2021 -1.6% 3.4% 0.5% -1.3% 1.0% 0.3% 2.3% -5.8% -1.3% -0.6% 1.7% -0.8% -0.8% 2022 1.8% -2.1% -0.9% -1.0% 0.9% 0.6% 0.8% 0.0% 2.0% 0.1% 0.3% 0.4% 0.7% 2023 11.4% 4.4% 1.2% 2.4% 0.5% -0.8% -0.7% 1.3% -0.7% -0.1% 3.6% -0.8% 0.8% 2024 0.5% 0.5% 2025 Key figures In EUR NAV per share Share price Discount to NAV Portfolio (in million) Net asset value (in million) Cash and cash equivalents (in million) Undrawn credit facility (in million) Dividend LTM Dividend yield 31.12.2024 15.03 10.70 -28.8% 1'075.05 1'039.07 18.7 140.00 0. 71 6.6% 31.01.2025 15.10 10.15 -32.8% 1'082.31 1'044.10 16.5 140.00 0. 71 7.0% Key figures in GBP 31.01.2025 31.12.2024 In GBP 12.63 12.42 NAV per share 8.45 8.92 Share price # NAV performance (total return) 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 0 100 200 300 400 500 -30% -20% -10% 0% 10% 20% 30% 40% # ■ PG PE Ltd ■ Performance (RHS) Total return in EUR (%) 5 years 3 years 1 year YTD 46.9 13.0 11.1 0.5 PGPE Ltd NAV 17.6 -7.9 2.7 -5.1 PGPE Ltd share price Largest ten direct investments % of NAV 8.7 Healthcare NAM PCI Pharma Services 1. 7.5 Consumer discretionary APC Vishal Mega Mart 2. 5.3 Real Estate Services WEU Emeria 3. 4.9 Industrials WEU Ammega 4. 4.8 Industrials NAM DiversiTech 5. 4.3 Consumer discretionary NAM KinderCare Learning Companies 6. 3.9 Consumer discretionary WEU International Schools Partnership 7. 3.6 Industrials WEU Techem Metering GmbH 8. 2.9 Healthcare WEU Galderma 9. 2.7 Financials NAM Foundation Risk Partners 10. NAV increased by 0.5% in January NAV increased by 0.5% corresponding to EUR 15.10 per share ▪Positive value creation (0.8%), slightly offset by currency movements (-0.3%) ▪PGPE Ltd invested EUR 2.2 million during the reporting period ▪From the total EUR 2.2 million invested by PGPE Ltd in January, EUR 1.6 million was in Avid Bioservices ("Avid"), a US-based biologics contract development and manufacturing organization ("CDMO") specializing in small-batch production of complex mammalian proteins. Founded in 1981, Avid transitioned to a CDMO model in 2018 and now operates four facilities in California with over 370 employees. The company has a strong reputation in a niche sector and benefits from robust or-ganic growth and revenue visibility. Partners Group has strong conviction in CDMOs, having tracked such companies for several years now as part of the firm's thematic research under the Health & Life vertical. Further, Galderma, a pure-play dermatology category leader, recently, announced the latest updates from its innovative aesthetics portfolio at the International Master Course on Aging Science (IMCAS) World Congress 2025, including treatments for frown lines (Relfydess), facial filler (Restylane), and biostimulator (Sculptra). Mean-while, Nemluvio (nemolizumab) has received marketing authorization in the UK and Switzerland for moderate-to-severe atopic dermatitis and prurigo nodularis. At the portfolio level, KinderCare Learning Companies ("KinderCare") and Galderma, both of which began trading on the public market in 2024, were the top contributors to value creation during the month. The largest for-profit provider of early childhood education and care services in the US released the "2025 KinderCare CHRO Per-spectives Survey", conducted by the Harris Poll. The report highlights human re-sources leaders ' recognition of the critical role childcare benefits play in talent ac-quisition, retention, and employee well-being, while underscoring the urgent need for more flexible and customizable options. Information Partners Group Private Equity Limited Tudor House P.O. Box 477 Guernsey, GY1 6BD Registered Office Phone: +44 (0) 1481 711 690 Fax: +44 (0) 1481 730 947 pgpe-ltd@partnersgroup.com Investor Relations For further information please visit: www.partnersgroupprivateequitylimited.com Partners Group Private Equity Limited (PGPE Ltd or the Company) is an investment holding company listed on the London Stock Exchange. The Company's investment objective is to provide shareholders with long-term capital growth and an attractive dividend yield by investing in a global portfolio of private companies. PGPE Ltd is managed in its investment activities by Partners Group, a global private markets in-vestment management firm with over USD 150 billion in investment programs under management in private equity, private credit , private real estate , private infra-structure, and royalties. # PARTNERS GROUP PRIVATE EQUITY LIMITED Monthly report as of 31 January 2025 Key facts London Stock exchange PEY.L Reuters Euro Quote PEYS.L Reuters Sterling Quote PEY LN Bloomberg Euro Quote PEYS LN Bloomberg Sterling Quote GG00B28C2R28 ISIN (Euro and Sterling Quote) B28C2R2 Sedol Euro Quote BF012D4 Sedol Sterling Quote 12.05.1999 Product life start date 69'151'168 Shares outstanding Portfolio composition # Investments by regional focus 45% North America AD C B A 42% Europe B 10% Asia-Pacific C 3% Rest of World D # Investments by stage 58% Buyout Small/Mid-cap AC B A 39% Buyout Large-cap B 3% Other C # Economic c urrency exposure EUR A 45%FED C B A 40% USD B 6% INR C 5% CHF D GBP E 1% Other F 3% Key figures in GBP EUR NAV converted to GBP at month-end GBP/EUR exchange rate from Bloomberg. Dividend yield considers the last twelve months dividends divided by closing share price as of reporting month. Value creation includes interest and dividend income received by PGPE Ltd. NAV performance (total return) Indexed to 100 at inception of Partners Group Private Equity Limited (formerly Princess Private Equity Holding Limited), showing last twenty years. PGPE Ltd: based on monthly total return valuations. For the purpose of total return calculation, dividends are reinvested. Largest ten direct investments Based on net asset value. Shown NAV of Vishal is net of taxes, expenses and lock-up discount. Portfolio composition Based on total value of investments. Economic currency exposure Figures are subject to estimates and rounding. Figures may not add up due to rounding. PGPE Ltd's economic currency exposure comprises the NAV of its investments, as well as other balance sheet items such as cash, receivables, payables, and foreign currency hedges, if applicable. Economic currency is defined as the currency in which the investment's business activity is primarily conducted or value is derived, which may differ from its operating currency. Net currency exposure as per reporting date. The net currency exposure is calculated looking through Partners Group programs. Diversification does not ensure a profit or protect against a loss; the portfolio composition may change over time. Total credit facility size EUR 140 million. This document is not intended to be an investment advertisement or sales instrument; it constitutes neither an offer nor an attempt to solicit offers for the product described herein. This report was prepared using financial information contained in the company's books and records as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This report describes past performance, which may not be indicative of future results. The company does not accept any liability for actions taken on the basis of the information provided. Please consult the constituent documents for a more complete description of the terms.