Closed-End Private Equity Investment Company / Alternative Assets
Strategic Profile
The Company's investment portfolio is managed by the Alpha Associates, an independent private equity, private debt and infrastructure manager and advisor. The fund prefers to invest in private equity funds and companies active in the European Developed Markets, with a particular focus on Switzerland, Germany, France and United Kingdom, as well as, Central and Eastern Europe, Israel and the United States. Investments in venture fund are primarily in the technology sector with a focus on Internet, telecommunications, information technology, and life sciences and other high-tech sectors.
Cyborg Score Rationale
PEH provides diversified private equity exposure through a professionally managed portfolio with strong geographic diversification across developed European markets and selective global exposure. However, recent technical indicators show weakness, with a daily buy/sell signal of Strong Sell, and the company generated negative earnings (EPS of -3.43), typical for closed-end fund structures.
Top Insights
NAV of EUR 152.52 (CHF 142.01) per registered share as of December 31, 2025, reflecting a slight month-on-month decline of 0.6% in euros largely due to negative currency effects despite positive underlying portfolio performance
Strong net cash inflows with EUR 12.3m in distributions significantly exceeding EUR 5.1m in capital calls driven by portfolio exits including Shawbrook Bank and EagleTree III's Moss sale
Expanded credit facility to EUR 40m with extended maturity to end-2028, bolstering financing flexibility
Dividend yield of 1.67%
Named Competitors
Golub Capital BDC — Business development company providing capital to middle-market companies
Private Equity Access — Institutional private equity fund platforms
Recent Developments
(January 2026) December 2025 NAV declined slightly to EUR 152.52 per share despite positive portfolio performance, affected by currency headwinds
(January 2026) Strong cash inflows with distributions exceeding capital calls, driven by portfolio exits including Shawbrook Bank gains
(January 2026) Credit facility expanded to EUR 40m with extended maturity through end-2028
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