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NAV update for abrdn Private Equity Opportunities

abrdn Private Equity Opportunities Trust (APEO)  provided an update for its estimated NAV. At 30 April 2023, APEO’s estimated NAV was 738.1 pence per share (estimated net assets £1,134.8 million), representing a 1.0% per share decrease from the estimated NAV at 31 March 2023 of 745.9 pence per share (estimated net assets £1,146.8 million). The 7.8 pence decrease in NAV per share reflected losses arising primarily from a 1.7% depreciation in the dollar versus sterling during April, in addition to the first interim dividend payment of 4.0 pence per share on 21 April 2023. The cash cost of the first interim dividend was £6.1 million.

In terms of investment activity for the month, a new primary commitment of $20.0 million was made to Seidler Equity Partners VIII, a fund focusing primarily on investing in lower middle market businesses in North America across branded consumer products, business services, and specialty manufacturing sectors.

The company also undertook a partial realisation of its holding in Action, the European non-food discount retailer, for portfolio construction reasons, realising €20.8 million of cash proceeds at a value equivalent to 100% of 31 December 2022 NAV. The realisation was executed through transactions with existing investors in the 3i 2020 Co-investment Programme.  As a reminder, APEO has been an investor in Action since 2011, initially through 3i Eurofund V and then as a co-investor alongside 3i, Action’s lead investor. Following the partial realisation, Action remains the largest underlying portfolio company in APEO’s portfolio with a remaining value of £50.0 million, equivalent to 4.2% of total portfolio NAV.

APEO : NAV update for abrdn Private Equity Opportunities

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