Epiris announces record investment return in 2016

POSTED 09 December 2016

Epiris, the manager of Electra Private Equity PLC (“Electra”), is delighted to announce that, for Electra’s financial year ending 30 September 2016, it has delivered:

• A total investment return of £751 million, the largest absolute return in Electra’s history and representing an increase of 46% on the opening portfolio. This has been driven by the continued successful implementation of Epiris’ Buyouts and Co-investment strategy as well as several strong exits during the year;

• Total realisations of £903 million, another record level in Electra’s history, with a further £91 million since the year-end increasing the total to almost £1 billion;

• New investment of £218 million; and

• A NAV per share total return of 35% for the year, taking Electra’s total net assets to £2.1 billion.

Epiris has invested £1.5 billion in private equity and leveraged loan assets since 2011; the returns it has delivered are in the top decile when compared with other private equity funds investing in Europe*.

Alex Fortescue, Managing Partner of Epiris, said:

“It has been an extraordinary year in many respects – we’ve been involved in M&A transactions with a combined value of £3.2 billion, we’ve delivered record levels of total investment return and realisations (£751 million and £903 million respectively) and of course the corporate changes.

“Investment performance has been driven by the success of our approach of buying attractive businesses well and then transforming them through M&A and strategic and operational focus and change.

“Our portfolio company management teams have shown just how good they are by delivering strong profits growth, continued M&A and a series of strong exits.

“We are pleased to have continued to deliver on our strategy and to drive exceptional performance for Electra. We have an experienced and talented team, a top-decile track record and a differentiated strategy and look forward with confidence to continuing to generate outstanding returns for our investors.”

Ends

For further information please contact:

Andrew Honnor, Matthew Goodman, Matthieu Roussellier, Greenbrook Communications
+44 (0)20 7952 2000

Nicholas Board and Andrew Kenny, Epiris
+44 (0)20 7306 3902

 

Note to Editors:

About Epiris LLP
Epiris is a top-decile private equity fund manager with over 25 years' experience. During this time it has invested in excess of £4.7 billion in over 200 deals. As at 30 September 2016, the firm had funds under management of £2.2 billion. Epiris’ flexible investment strategy has allowed it to invest broadly across the private equity market, principally in Buyouts and Co-investments as well as loan-to-own debt.

The firm's major client is Electra Private Equity PLC (“Electra”), a private equity investment trust which has been listed on the London Stock Exchange since 1976. Electra’s long-term investment performance has been consistently superior to private equity and other benchmarks.

Over the five years to 30 September 2016, Electra has seen NAV per share growth of 141%, equivalent to an annualised return of 19%.

Over the same time period Electra’s share price total return has been 231%, more than twice the total return of the FTSE-250 index and more than three times the total return of the FTSE All-Share Index. Electra’s shares have outperformed the FTSE All-Share by 24% per annum on a risk-adjusted basis.

For full details of Electra’s results for the year to September 2016 or for further information please visit www.epiris.co.uk.

Issued by Epiris Managers LLP which is authorised and regulated by the Financial Conduct Authority.

 

*        Refers to the 2009 and 2012 investment pools comprising Buyout and Co-investment, Secondary and Debt investments managed on behalf of Electra Private Equity PLC; comparator data supplied by Preqin.