PGGO Partners Grp

 

TIDMPGGO 
 
RNS Number : 8327V 
Partners Group Global Opportunities 
16 July 2009 
 

News Release 
 
 
Guernsey, 16 July 2009 
 
 
PGGO publishes June NAV 
 
 
As already announced in previous releases, PGGO is currently implementing 
measures to improve its liquidity position and reduce leverage over the short- 
to mid-term to a more moderate level of EUR 30-50 million. Additionally, this 
will also provide support in the preparation of the potential change in the 
structure of the company. In order to achieve this target, the company has, in 
addition to asset sales announced in previous months, agreed on the sale of a 
number of fund interests with a focus on those with high unfunded commitments in 
order to decrease the Company's commitment ratio. As a result, PGGO's unfunded 
commitments will be reduced by EUR 43.5 million or over 70%. While some of these 
transactions will only settle in the coming weeks, the discount at which the 
commitments are sold is already fully reflected in the net asset value ("NAV") 
as of 30 June 2009. Following the settlement of these transactions and the 
previously announced asset sales, PGGO's net debt is expected to decrease to 
approximately EUR 50 million. 
 
 
Including the above measures, the NAV of PGGO decreased by 19.6% to EUR 5.10 per 
share during the month of June. Revaluations of direct investments and general 
partner reports for the secondary and primary fund investments had a limited 
impact on the NAV of -7.6%. These downward revisions were partially offset by 
positive IFRS adjustments to the general partner reports made by PGGO's 
Investment Advisor, Partners Group, which were mainly due to an increase of 
public comparables during the month of June. However, the biggest impact of 
-15.2% was accounted for executed as well as arranged, but not yet fully 
transacted sales of selected primary and secondary fund investments. 
 
 
Urs Wietlisbach, a Director of PGGO and co-founder of Partners Group, the 
Investment Advisor to PGGO, comments: "With these successful asset sales, we 
believe PGGO is well positioned to weather the current demanding market 
environment. In addition, with the significant reduction of unfunded 
commitments, PGGO will have an even stronger focus on direct investments, which 
should lead to a higher portfolio visibility and could potentially result in a 
quicker NAV recovery once public markets and the wider economy rebound." 
 
 
 
 
About Partners Group Global Opportunities Limited 
Partners Group Global Opportunities Limited is a closed-ended investment company 
with limited liability domiciled in Guernsey and traded on the London Stock 
Exchange (Main Market) (Ticker symbol: PGGO). Partners Group Global 
Opportunities Limited is designed to provide public market investors access to 
direct private equity and private debt investments alongside leading private 
equity firms and advised by Partners Group AG, a global alternative asset 
management firm listed on the SIX Swiss Exchange (ticker symbol: PGHN) with over 
CHF 24 billion assets under management in private equity, private debt, private 
real estate, private infrastructure, absolute return strategies and listed 
alternatives. 
 
 
Contacts 
Partners Group Global Opportunities Limited 
info@pg-globalopportunities.net 
www.pg-globalopportunities.net 
 
 
Registered Number: 45101 
 
 
Media enquiries 
Partners Group AG 
Tamara Krebs 
Communications 
Phone: +41 41 768 85 26 
tamara.krebs@partnersgroup.com 
www.partnersgroup.com 
  Corporate broker 
JPMorgan Cazenove 
20 Moorgate 
London EC2R 6DA 
United Kingdom 
 
 
This document does not constitute an offer to sell or a solicitation of an offer 
to buy or subscribe for any securities and neither is it intended to be an 
investment advertisement or sales instrument of Partners Group Global 
Opportunities Limited. The distribution of this document may be restricted by 
law in certain jurisdictions. Persons into whose possession this document comes 
must inform themselves about, and observe any such restrictions on the 
distribution of this document. In particular, this document and the information 
contained therein is not for distribution or publication, neither directly nor 
indirectly, in or into the United States of America, Canada, Australia or Japan. 
 
 
This document may have been prepared using financial information contained in 
the books and records of the product described herein as of the reporting date. 
This information is believed to be accurate but has not been audited by any 
third party. This document may describe past performance, which may not be 
indicative of future results. No liability is accepted for any actions taken on 
the basis of the information provided in this document. 
 
 
Issued and approved by Partners Group (UK) Ltd., authorised and regulated by the 
Financial Services Authority in the United Kingdom. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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