Patria Private Equity Trust Plc (LON:PPET) has announced its half-year results for the financial year ending 31 March 2026.
HIGHLIGHTS
· NAV – NAV Total Return (‘NAV TR’) for the six months to 31 March 2026 was 3.1%.
· Proposed Dividend Per Share – 18.4 pence, representing a 4.5% increase and the 12th consecutive year of dividend growth.
· Cash Flows – Realisations of £125.6 million and drawdowns of £95.6 million for the period.
· New Investments – 10 new investments and commitments totalling £175.9 million during the period.
· Outstanding Commitments – Outstanding commitments amounted to £824.9 million and the overcommitment ratio was 39.4% for the period, within the Manager’s long-term target range.
· Balance Sheet and Liquidity – available resources of £276.7 million as of the end of the period (comprising cash and undrawn credit facility).
NOTABLE MILESTONES AND BOARD ENGAGEMENT
· First ever Capital Markets Event successfully delivered on 1 June 2026.
· The Company celebrated its 25th anniversary by closing the London Stock Exchange on 1 June 2026.
· Seamless Chair of the Board transition with Duncan Budge succeeding Alan Devine on 25 March 2026.
· Since the Board commenced share buybacks in January 2024, 7.0 million Ordinary Shares were bought back, adding 10.8 pence to NAV per share for remaining shareholders.
· Committed to maintaining the value of the dividend in real terms.
FOCUS ON THE EUROPEAN MID-MARKET
PPET focuses on the private equity mid-market, targeting long-term total returns through capital growth and quarterly dividends. The Company offers everyday investors exposure to a diverse underlying portfolio of mid-market private companies that are not otherwise publicly available. PPET has primarily invested in European investments since inception in 2001 and partners with a carefully selected group of market-leading private equity managers, investing in their funds and directly alongside them into private companies. Europe is the home of the ‘primary buyout’, where private equity firms buy from founders or families and can add genuine operational value to help these businesses grow, and is a deep, complex market which is well-suited to the specialist local private equity managers that PPET partners with. By investing in PPET, investors get exposure to a portfolio that includes more than 700 separate private companies, with the benefits of daily liquidity, quarterly dividends and no performance fee.
Duncan Budge, Chairman of Patria Private Equity Trust, commented:
“PPET celebrated its 25-year anniversary on 29 May 2026, representing an important milestone for the Company, marked by a Capital Markets Event for all stakeholders. The Company’s longevity is a testament to its long-term relevance and performance. Since inception, PPET has delivered an annualised share price total return of 9.6% I wish to thank our shareholders for their continued support in the evolution of PPET.”
Alan Gauld, Lead Portfolio Manager of Patria Private Equity Trust , commented:
“PPET continues to deliver NAV Total Return growth for shareholders, with the long-term fundamentals supporting European mid-market private equity despite the macroeconomic headwinds. Our portfolio continues to demonstrate revenue and earnings resilience, and we continue to see a healthy pipeline of opportunities across primary funds, secondaries and direct investments. I am confident in the Company’s ability to continue to navigate near-term uncertainty and deliver attractive long-term returns.”
