Listed private equity firm Electra Private Equity reported that its investments and realisations reached record levels in the fiscal year to end September as returns reached 26 per cent.
The full year results from Electra showed that the London-based firm invested £337m last year – or more than double the £150m invested in the previous year – while realisations reached £459m, up from £301m.
Net valuations rose 26 per cent year on year to £222m including a £113m gain by portfolio company Allflex Holdings. The results also showed that the share price discount to NAV increased to 19 per cent from 12 per cent six months ago.
Shares in the firm outperformed the FTSE All-Share, rising 26 per cent compared to a 19 per cent increase in the index.
Electra chairman Colette Bowe said, “Electra has had an active and successful year with both purchases and sales of private equity investments at their highest ever level, an increase in diluted net asset value and a strong share price performance.
“Electra Partners’ deal flow continues to grow with the improving economic outlook and the gradual contraction of competition from other private equity funds. With a flexible investment strategy, a sound capital base and substantial cash resources, Electra is well positioned for future growth.”
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