16th Oct 2013 06:31
LONDON (Alliance News) - JZ Capital Partners Limited Wednesday said it provided a higher net-asset-value total return for the recent half year than it did at the same point last year.
JZ Capital Partners said it gave a 3.4% NAV total return over the six months ended August 31, compared with a 1% for the corresponding period last year.
"We have also continued to apply our rigorous investment principles to partner with an experienced management team to build a portfolio of US real estate which we expect to significantly contribute to NAV growth in the future," David Zalaznick, founder and investment adviser, said in a statement.
"We are well positioned with a strong balance sheet and a long pipeline of realization and investment opportunities and look to the future with confidence," Zalaznick added.
The London-listed private equity fund, which invests in high quality US, European and Latin American micro cap companies, said its NAV per share grew to USD9.87 compared to USD9.69 on February 28.
It said it has now seen NAV growth in 17 of the past 18 quarters.
JZ Capital Partners increased its interim dividend to 14.5 cents, up from 14.0 cents in the last half year.
The fund saw USD69.3 million in proceeds over the period, mostly because of a USD38.6 million realised gain on an investment in US manufacturer Horsburgh and Scott.
JZ Capital Partners shares Tuesday closed at 451.10 pence, up 3.60 pence, or 0.80%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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