Electra Private Equity Net Asset Value, Returns Up Again

LONDON (Alliance News) - Electra Private Equity PLC Wednesday reported another increase in net asset value for its last financial year, after it made a record level of investments and realisations despite the challenging markets.

In a statement, the investor in private equity said its net asset value per share rose 12% over the 12 months to end-September to 2,764 pence, and had increased further to 2,796 pence by November 21.

Its share price rose 26% over the year, outperforming a 19% increase for the FTSE All-Share index.

It invested GBP337 million and realised GBP459 million including income. It achieved GBP22 million of net valuation increases, a return of 26% on the portfolio.

"Electra Partners' deal flow continues to grow with the improving economic outlook and the gradual contraction of competition from other private equity funds. With a flexible investment strategy, a sound capital base and substantial cash resources, Electra is well positioned for future growth," Chairman Colette Bowe said in a statement.

"The high level of recent realisations has reduced the maturity of the investment portfolio. Despite this we expect to continue to add value growth in the short term through our strategy of purchasing at discounted values as well as in the longer term through investing in growth," Electra Partners Managing Director Hugh Mumford added.

Electra private Equity shares were up 2.9% at 2,366 pence Thursday morning, one of the biggest gainers on the FTSE 250.

By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1

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