IN BRIEF: PGPE to seek wind-down after shareholder vote
Partners Group Private Equity Ltd - Guernsey-registered investment trust managed by Partners Group AG - Says shareholders have elected 48.8 million shares combined, or over 74% of its issued share capital, for redesignation as realisation shares under its reorganisation proposal. Shareholders could choose to either continue their investment, thereby retaining exposure to the firm's existing investment strategy in all material respects; or to redesignate some or all of their shares as realisation ordinary shares. The latter option would mandate the realisation of existing investments in line with the ordinary course business plan for each investment, the return of available proceeds to the shareholders, and the non-participation in any new investments made by PGPE. As a result, PGPE says it will withdraw the reorganisation resolution at its extraordinary general meeting on Wednesday, and only submit the managed wind-down resolution for approval. If shareholders do not approve it, PGPE will continue to be managed in accordance with its current investment objective and policy, and the directors will reassess the options available. Read More