Another set of strong results cements Epiris’ top-decile track record

POSTED 25 May 2017

Epiris is delighted to announce the continuation of its strong long-term performance record, as proven by the first half of Electra Private Equity PLC’s (“Electra”) 2017 financial year.

Electra’s results for the six months to 31 March 2017 show:

• A continuation of the strong performance which Epiris has delivered over the long-term. The investment return was 15% for the last six months and 41% for the last twelve months.

• Total realisations of £1,067 million, a record for Electra for any six-month period, with a further £468 million announced after the end of March taking the total to over £1.5 billion since October 2016.

• NAV per share total return of 10% for the six months and 30% for the last twelve months.

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*.

On 31 May Epiris will cease to manage Electra.

Alex Fortescue, Managing Partner of Epiris, said:

“This is the last set of results we will announce for Electra and we are very pleased to be able to go out on a high. Under our management, Electra has been the best-performing London-listed private equity investment trust and has comprehensively outperformed broader equity indices over the past ten years.

“Since September we have returned £1.5 billion to Electra and been involved in M&A transactions with a total value of £3.6 billion.

“We have an outstanding and proven team of investment professionals. Our investment track record is in the top decile, driven by a differentiated strategy of value at entry and subsequent business transformation through M&A and operational improvement. We look forward to continuing this success with our partners.”

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*.

Epiris manages private equity investment programmes for pension funds, financial institutions and family offices and has also, together with its predecessor firms, managed the business and affairs of Electra Private Equity PLC, a listed private equity investment trust, for four decades. Since 2011, Epiris has invested £1 billion in buyouts and co-investments and loan-to-own debt investments, in respect of which it has delivered a gross IRR of 38%**.

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 & Co-investment, Secondary and Debt investments managed on behalf of Electra Private Equity PLC; comparator data supplied by Preqin.

**      As at 31 March 2017 adjusted for subsequent investments and realisations. Gross IRR does not reflect adjustments for investment management and administration costs. Past performance is no guarantee of future results.

About Electra’s Performance
Over the five years to 31 March 2017, Electra has seen NAV per share growth of 150%, equivalent to an annualised return of 20%, Over the same period Electra’s share price total return has been 209%, 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 10% per annum on a risk-adjusted basis.

Performance (Total Return):

	Six months	One year	Three years	Five years	Ten years
NAV per share
Electra	10%	30%	102%	150%	230%
Morningstar PE Index	5%	22%	57%	85%	26%
Share price
Electra	18%	48%	103%	209%	237%
Morningstar PE Index	15%	55%	75%	167%	14%
FTSE All-Share Index	8%	22%	25%	59%	74%
FTSE 250 Index	7%	15%	26%	88%	114%

Performance calculated on a total return basis with dividends reinvested.

The Morningstar PE Index, prepared by Morningstar UK Limited, reflects the performance of 21 private equity vehicles, excluding Electra, listed on the London Stock Exchange.

For full details of Electra’s results for the six months to March 2017 or for further information please visit www.epiris.co.uk.