Electra Private Equity, the investment trust that invests in private equity ventures, saw an 8.5% rise in net asset value (NAV) per share after a strong portfolio performance during the year ended 30 September.
During the 12 month period, which saw NAV per share grow from 2,050p to 2,225p, the firm invested £136m, and realised £137m. Since the year end the NAV per share has fallen slightly to 2,221p per share.
Chairman Colette Bowe said: "The performance of the business in the last financial year has once again demonstrated the manager's ability to invest and divest successfully during tough times. This expertise together with Electra's financial resources and flexible investment mandate, will, in our view, enable the company to continue to deliver good returns."
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Hugh Mumford, managing partner at the firm, added: "Portfolio performance is encouraging and we have a good pipeline of quality deals. However caution is still required and our focus remains on businesses we consider to have good defensive qualities to meet the potential difficulties ahead.
"Against the background of a tightening banking market and shortage of capital, Electra's high level of investment capacity is likely to be extremely advantageous. Electra therefore remains well placed for the challenges ahead."
Over the past five years NAV per share has risen 44%, and 168% over 10 years.
Shortly after the year end, Electra made two further substantial realisations involving BDR Thermea and SAV Credit. In October Electra received £39.1m as the first instalment, with further instalments worth around £40m due over the next two years and in November the firm received £40.8m from of the sale of the investment in SAV Credit.
The share price rose 0.35% to 1,430p by 08:22.
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