NAV falls at Candover Investments as portfolio valuations contract
The value of net assets per share in Candover Investments, the European private equity house, fell 15.2 per cent to 608p in the year ended December 31st.
The value of net assets per share in Candover Investments, the European private equity house, fell 15.2 per cent to 608p in the year ended December 31st.
Preliminary unaudited results for the year showed that portfolio valuations were down 10.7% over the year accounting for over 80% of the drop in net asset value (NAV).
Of the 11 portfolio investments, on a constant currency basis, four were written up, two were unchanged and five were written down.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Net debt decreased by £11.3m to £26.7m following the disposal of Capital Safety Group and receipt of a deferred contingent payment from Wood Mackenzie, offset by a follow-on investment in Stork.
There was a corresponding improvement in the loan-to-value ratio which fell to 18.1%.
Malcolm Fallen, Chief Executive Officer of Candover Invesrtment, said: "We continue to track Arle's [Arle Capital Partners, investment manager] progress in meeting its objectives of maximising the value of the portfolio and preparing the businesses for exit.
"We have not seen as much progress in realising the portfolio as had been envisaged when Arle acquired Candover Partners. However, our aim remains to optimise the long term value of the portfolio by returning cash to shareholders as soon as is practical."
Candover Investments' share price had contracted 9.90% to 383.50p at 13:30 on Friday.
MF
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will chancellor Rachel Reeves reverse non-dom inheritance tax changes?
The end of the non-dom tax regime is already causing a UK wealth exodus, data suggests, but chancellor Rachel Reeves may make changes to soften the blow of reforms
-
Paying the grandkids’ school fees could generate a shock IHT bill
Private school fees have soared as a result of the government’s VAT policy, meaning more grandparents are helping out – but what are the tax implications?