The three types of London-listed private equity investment companies

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Direct Private Equity (check factsheet for latest premium/discount)
Investment company (ticker)
Investment approach
Size (£m)
Shareholder total return (5 yrs) %
Underlying portfolio return (5 yrs)
Yield (%)
Premium / discount (%)
Investment company (ticker)
Investment approach
Size (£m)
Shareholder total return (5 yrs) %
Underlying portfolio return (5 yrs)
Yield (%)
Premium / discount (%)
1
3i Group (III)
Buy-outs, growth capital & infrastructure
11,021
223.0
184.8
3.1
27.1
2
Apax Global Alpha (APAX)
Apax funds & direct private & public investments
997
146.0
95.1
4.7
-1.5
3
HgCapital Trust (HGT)
Pan-European mid market buy-outs (£50-500m)
1,331
275.5
141.2
1.6
9.1
4
NB Private Equity (NBPE)
Fund of global private equity limited parnerships
566
105.4
84.2
3.7
-19.2
5
Oakley Capital Investments (OCI)
Mid-market pan-European (£20-100m)
526
123.1
91.0
1.5
-25.7
6
Princess Private Equity (PEYS)
Private equity & debt. Mostly direct, some funds
662
-
94.1
3.9
-17.0
7
Sector average
-
-
165.2
125.2
3.0
17.6
8
Sector average excluding 3i
-
-
99.4
57.3
2.9
-6.7
Fund of Funds (check factsheet for latest premium/discount)
Investment company (ticker)
Investment approach
Size (£m)
Shareholder total return (5 yrs) %
Underlying portfolio return (5 yrs)
Yield (%)
Premium / discount (%)
Investment company (ticker)
Investment approach
Size (£m)
Shareholder total return (5 yrs) %
Underlying portfolio return (5 yrs)
Yield (%)
Premium / discount (%)
1
BMO Private Equity (BPET)
Fund of global private equity funds
222
65.3
58.1
5.3
-18.6
2
HarbourVest Global Private Equity (HVPE)
Mostly HarbourVest private equity fund
1,549
115.6
96.8
0.0
-14.2
3
ICG Enterprise (ICGT)
UK mid-market buy-outs & private equity funds
681
111.0
69.7
2.3
-21.4
4
Pantheon International (PIN)
Private equity funds. Likes to buy on secondary market
1,325
106.0
75.0
0.0
-18.3
5
Standard Life Private Equity (SLPE)
Private equity funds (primarily European buy-outs)
617
145.3
91.9
3.3
-14.2
6
Sector average
-
4,394
113.2
83.2
1.1
-16.8
Growth Capital (check factsheet for latest premium/discount)
Investment company (ticker)
Investment approach
Size (£m)
Shareholder total return (5 yrs) %
Underlying portfolio return (5 yrs)
Yield (%)
Premium / discount (%)
Investment company (ticker)
Investment approach
Size (£m)
Shareholder total return (5 yrs) %
Underlying portfolio return (5 yrs)
Yield (%)
Premium / discount (%)
1
Augmentum Fintech (AUGM)
Fintech companies in UK & Europe
198
36.5
6.3
0.0
20.7
2
Chrysalis Investments (CHRY)
UK unquoted companies
802
53.8
41.9
0.0
23.9
3
Draper Esprit (GROW)
Early stage technology companies
1,140
39.0
15.4
0.0
25.0
4
Schiehallion Fund (MNTN)
Unquoted companies from around the world
614
30.2
35.6
0.0
18.7
5
Schroder UK Public Private (SUPP)
Ex-Woodford Patient Capital Trust run by Schroders
328
14.4
-17.5
0.0
-25.0
6
Sector average
-
3,306
35.1
20.1
0.0
15.0
Source: Numis Securities, Morningstar Inc 23/2/21. Size = stock market capitalisation. Portfolio total return = net asset value including dividends. Premium/discount show how fare the share price stands above or below net asset value.
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