26th Jun 2025 10:40
(Alliance News) - Patria Private Equity Trust PLC on Thursday announced a higher net asset value and an improved interim NAV total return, as it reiterated its support for its manager.
The Edinburgh, Scotland-based investment company is managed by Patria Capital Partners LLP, a subsidiary of Patria Investments Ltd.
The trust said net asset value per share climbed 1.5% to 791.8p as at March 31 from 780.1p at September 30, 2024.
NAV total return was 2.6% in the six months to March 31, improved from 2.0% a year prior.
Total dividend per share on an annualised basis was 17.6 pence in the six months to March 31, which includes a forecast dividend for the financial year ending September 30. This is up 4.8% from 16.8p a year ago.
"PPET continues to overcommit to funds to ensure the most efficient use of its resources, optimise returns, and to get exposure to the best managers in the mid-market. This is common practice for listed private equity trusts, and we have employed this approach since PPET's inception in 2001," the company said.
Chair Alan Devine said: "We remain highly supportive of the manager, and continue to explore and encourage new ways to market the trust to capture new pools of buyers. As such, we will continue to review the marketing strategy and budget, and the effectiveness of current initiatives.
"Furthermore, we will continue to monitor closely the evolution of the PPET share price and, in the event of further sizeable distributions from the portfolio, will look to review the allocation of fresh capital to the current buyback programme."
Patria Private shares were flat at 560.00 pence each on Thursday morning in London, giving it a market capitalisation of GBP837.7 million.
By Tom Budszus, Alliance News slot editor
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