TIDMSLPE

Standard Life Private Eqty Trst PLC

19 July 2021

London, UK, 19 July 2021

Edison issues review on Standard Life Private Equity Trust (SLPE)

Standard Life Private Equity Trust (SLPET) reported a NAV total return of 14.9% in H121, on the back of a 22.9% increase in the underlying portfolio value at constant currency, partially offset by negative FX effects (in particular sterling appreciation vs euro). SLPET's high realisation activity (including several successful IPOs and private transactions) continued in the period with GBP92.7m proceeds. These exits generated an average uplift to carrying value two quarters prior (to exit dates) at 63.1% and average multiple on invested capital (MOIC) at 2.6x.

While private equity exit activity has been strong recently, the high level of dry powder results in fierce competition for quality assets. Consequently, SLPET's investment level (defined by the overcommitment ratio) remains below the 30-75% target range (currently at c 28%). We believe that its recent high realisation activity may continue in the near term, given that 53% of its portfolio represents vintages of four years or older, with the five-year-plus bucket held at 2.3x cost on average, while the five-year and four-year buckets are held at 2.2x and 1.9x, respectively. At the same time, SLPET's manager sees a good pipeline of primary fund and co-investment opportunities (with three primary commitments and three co-investments closed in H121), which will absorb some of the exit proceeds.

Click here to view the full report or here to sign up to receive research as it is published.

All reports published by Edison are available to download free of charge from its website

www.edisongroup.com

About Edison: E dison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.

Edison is authorised and regulated by the Financial Conduct Authority .

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Milosz Papst +44 (0)20 3681 2519 investmenttrusts@edisongroup.com

   Learn more at   www.edisongroup.com and connect with Edison on: 
   LinkedIn        https://www.linkedin.com/company/edison-group-/ 
   Twitter           www.twitter.com/Edison_Inv_Res 
   YouTube       www.youtube.com/edisonitv

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word "Reach" in the source column of the News Explorer pages of London Stock Exchange's website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRASFLFSUEFSEIW

(END) Dow Jones Newswires

July 19, 2021 06:58 ET (10:58 GMT)

Standard Life European Private E (LSE:SEP)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Standard Life European Private E Charts.
Standard Life European Private E (LSE:SEP)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Standard Life European Private E Charts.