Partners Group Private Equity Limited (LSE: PEY; PEYS), the Guernsey-domiciled closed-ended investment company managed by Partners Group AG, has published its September net asset value update, disclosing a 0.1% increase in NAV per share for the month. The modest gain reflected currency movements of positive 1.0% that marginally offset negative revaluations of 0.9%. The fund also reported a liquidity position of EUR 29.3 million, equivalent to approximately 3.8% of Fund NAV, following a new co-investment completed during the period.

Key Points

  • Partners Group Private Equity Limited (LSE: PEY; PEYS) — Guernsey-domiciled closed-ended investment company founded in 1999
  • NAV per share increased 0.1% in September, with currency gains of +1.0% partly offset by portfolio revaluations of -0.9%
  • Liquidity stood at EUR 29.3 million (approximately 3.8% of Fund NAV); EUR 2.3 million invested in a new UK-based co-investment
  • Investors may be watching the ongoing managed wind-down process and how portfolio valuations evolve in coming months

International Schools Partnership Drives Notable Positive Contribution to PGPE September NAV

International Schools Partnership, described in the announcement as a leading global K-12 private education platform offering English and multilingual education, was the most significant positive contributor, adding 0.2% to Fund NAV during September. The uplift was driven by growth in valuation EBITDA, a slight reduction in net debt, and a higher valuation multiple applied in line with public market comparables. The announcement notes that ISP currently serves more than 118,000 students across 120 schools in 26 countries, with a strong acquisition pipeline and continued progress on its growth plan underpinning confidence in the asset.

Vishal Mega Mart Share Price Decline Creates Largest Single Detractor at -0.4% of Fund NAV

Indian retail chain Vishal Mega Mart was the most significant negative contributor in September, detracting 0.4% from Fund NAV based on its listed share price performance during the month. Despite the valuation headwind, Vishal reported robust underlying financials for the quarter ending 30 June 2026, with revenue and net profit growing 19% and approximately 26% year on year respectively. Same-store sales growth of 10%, combined with store expansion to 819 locations across 559 cities and a retail footprint of around 13.8 million square feet, illustrated the operational momentum that PGPE's holding continues to generate.

EUR 2.3 Million Co-Investment in UK Loan Agency Provider Completed Before Wind-Down Vote

PGPE Ltd deployed EUR 2.3 million during September as a direct co-investment into a UK-headquartered provider of loan agency and bond trustee services. The announcement states the investment had been signed prior to the shareholder vote on the managed wind-down, clarifying the timing context for investors monitoring the company's capital allocation discipline. No notable distributions or exits were recorded during the month. The resulting cash and cash equivalents position of EUR 29.3 million, representing approximately 3.8% of Fund NAV, provides visibility on near-term liquidity as the wind-down process progresses.