Electra Private Equity : ELTA – interim results

Electra Private Equity has released its interim statement. This covers the six month period ended 31 March 2014. Over the period Electra’s net asset value rose by 5.4% to 2,914p, driven in part by gains in the valuations of Axio Data and Park Resorts. Electra outperformed the FTSE All-Share Index, which rose by 4.8%. Electra’s share price did even better – it rose by 17% as its discount narrowed.

Electra Private Equity invested £250m during this time, more than it has done in any previous six month period, – including deals to buy Hotter Shoes, Ogier Fiduciary Services and Innovia.

Disposals in the period totalled £152m. These included the exit from Lil-lets Group and cash returns from Axio Data and the EP1 portfolio of secondary investments. Roger Yates (pictured) recently took up the role of Chairman. His statement cautions that the portfolio is now relatively immature (investments have, on average, been held for less than three years), consequently the pace of disposals may slow for a while.




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