JPEL Private Equity Limited (JPEL) has announced that, on 14 March 2016, Caisse de dépôt et placement du Québec (CDPQ) announced an investment in Datamars, a global company based in Switzerland whose technology is used to identify and track livestock, companion animals and textiles. The transaction is subject to regulatory and change of control approvals as well as customary completion conditions and procedures, with closing expected by the end of April 2017. JPEL holds an indirect interest in Datamars and says that the sale is likely to result in a realised investment return of approximately 3.5x JPEL’s cost, and a IRR of 50.6%, for JPEL, on a Swiss franc basis. Based on the sale price, JPEL says that it is expecting to receive proceeds of approximately CHF 46 million, which reflects JPEL’s current carrying value. JPEL has increased the value of Datamars by approximately 96% since December 2015, based on ongoing sale discussions. JPEL says that, at 31 December 2016, Datamars represented 9% of JPEL’s total NAV and was JPEL’s second largest underlying investment.
About JPEL Private Equity
JPEL Private Equity Limited (formerly JP Morgan Private Equity) seeks to invest with the world’s leading private equity fund managers. JPEL Private Equity invests in private equity partnerships and direct investments in Europe, North America, and Asia. JPEL Private Equity is financed, in part, by a zero dividend preference share issue.
JPEL Private Equity likely to realise a return of 3.5x cost, and a IRR of 50.6%, from sale of Datamars : JPEL