The Board of Private Equity Investor has announced that it has received a proposal to acquire 15 of its Limited Partnership investments. The proposal covers approximately 87% of the NAV of the investment portfolio of the Company. The proposal is priced at a 35% discount to the net asset value of these holdings at 31 December 2015. The proposal is before expenses and subject to adjustment for distributions to, and capital calls from, the Company between 31 December 2015 and the closing date of the transaction. Unrestricted cash at calendar year-end totalled approximately GBP3.6 million ($4.8 million) and total restricted cash was approximately GBP3.0 million ($4.0 million). The LP assets not subject to the proposal totalled GBP2.5 million ($3.3 million) at the Company’s year-end and include one Fund currently valued at GBP1.6 million ($2.1 million) which is subject to sale restriction. The Company will continue to progress negotiations and consult with significant Shareholders. In the absence of other, better alternatives, the Board intends to proceed with the sale.
PEQ : Private Equity Investor gets approach for portfolio