PGGO publishes third quarter 2009 interim report
03 November 2009 - 1:16AM
UK Regulatory
TIDMPGGO
RNS Number : 7838B
Partners Group Global Opportunities
02 November 2009
News Release
Guernsey, 2 November 2009
PGGO publishes third quarter 2009 interim report
Partners Group Global Opportunities Limited ("PGGO") today announces the
publication of its interim report for the nine months ended 30 September 2009.
Mainly driven by changes in valuations and the costs of the repositioning,
PGGO's net asset value ("NAV") declined by 35.7% to EUR 4.98 per share during
the first nine months of the year.
Notable events during the reporting period include:
* The repositioning of the PGGO portfolio to strengthen its liquidity position and
to reduce gearing over the short to medium term to a more moderate level of EUR
30-50 million was successfully concluded.
* As a part of this process PGGO agreed to sell, partially or wholly, five direct
investments for a total consideration of EUR 28.9 million. PGGO further
completed the sale of 21 fund commitments in the secondary market, producing
total proceeds of EUR 20.0 million and, at the same time, releasing PGGO from
EUR 43.5 million in unfunded commitments.
* The Board of Directors of PGGO completed the signing of a new three-year credit
facility of initially EUR 55 million, with the potential to increase to EUR 60
million.
John Hallam, Chairman of PGGO, comments: "With the successful conclusion of
PGGO's repositioning, which helped to reduce leverage in this uncertain
environment, and the new three-year credit facility, we regard PGGO to be in a
comfortable liquidity situation with sufficient headroom for future funding
obligations. Based on the soundness of the Company's balance sheet and an
increased allocation to direct investments, which should result in greater
visibility and the ability to more actively steer the portfolio, the Board of
Directors is confident in PGGO's long-term development."
A detailed analysis and commentary on the first three quarters 2009 developments
at PGGO are presented in the interim report published today, which can be
accessed via http://www.pggo.net/en/investor_relations/reports.php?ml
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
QRTBSBDBXBGGGCD
Partners Grp (LSE:PGGO)
Historical Stock Chart
From May 2024 to Jun 2024
Partners Grp (LSE:PGGO)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Partners Grp (London Stock Exchange): 0 recent articles
More Partners Grp News Articles