LONDON (Alliance News) – JZ Capital Partners Ltd on Monday hailed the performance of its underlying assets in the three months to the end of November, which founder and investment advisor David Zalaznick said were characterised by a “healthy flow” of investment and realisation activity.
The London-listed fund, which invests in US and European microcap companies and US real estate, reported valuation uplifts across its US, European and real estate portfolios of 9.0 cents, 7.0 cents and 1.0 cent in local currencies. The pre-dividend net asset value per share was down to USD9.67 from USD10.67 during the period, due to issuing 18.9 million new shares and unfavourable currency movements.
It invested USD30.3 million during the period, spread across Jordan Health Products, Tech Industries, and three additional real estate properties.
A total of USD34.6 million was realised from a number of areas, including the refinancing of the Flatbush portfolio, the sale of Justrite Manufacturing, and the repayment of its second lien position in Dekko.
“Going forward we remain focused on generating realisations across the portfolio and investing the new capital from the recently completed key strategic initiatives. JZCP’s balance sheet is strong and we are well positioned to take advantage of the growing number of investment opportunities,” Zalaznick said.
Shares in JZ were down 1.4% at 385.00 pence on Monday afternoon.
By Samuel Agini; email@example.com; @samuelagini
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