Partners Group sees net asset value increase for two products

P3 and Pearl Holding have each substantially increased their net asset values underlining the record-breaking year enjoyed by private equity in 2006.

Swiss alternative asset manager Partners Group saw the net asset value of two of its products increase in 2006, the firm said in year-end statements.

Partners Group Private Equity Performance Holding (P3), a quoted fund of funds, recorded a 14 percent rise in its net asset value to €1,323.17 per share, its highest level ever, in 2006, the firm said.

“The strong NAV growth during the second h14 percent alf of the year in combination with the more moderate development of the share price confirmed the attractiveness of this investment,” Thomas Staubli, a P3 partner, said in a statement.

P3’s share price rose 20.26 percent year to date to €1059.50.

Pearl Holding, a private equity investment company, also saw in increase in 2006. Its net asset value increased by more than 9 percent to more than 105 percent. “The positive development of the Pearl portfolio in 2006 is mainly due to value creation in its portfolio partnerships, promoted by the current private equity environment as well as numerous attractive exit opportunities,” said Staubli.

Pearl’s portfolio is nearly fully invested. “The portfolio as of year-end contains a good blend of investments, including mature partnerships which should provide a strong distribution flow,” he said.

Since it was established in 2000, Pearl Holding has raised €660 million.

In 2006, Partners Group made a number of advances in the private equity industry. Among its accomplishments included its listing on the Swiss stock exchange and the closing of a $375 million Asian fund. It also closed a €282 million mezzanine fund, as well as two European fund of buyout funds worth a total of €647 million.

Led by chief executive officer Steffen Meiser, Partners Group was established in 1996. It plans to release its complete financial statements in March.