Columbia Moderate 529 Port A - Static · NASDAQ:CMOSX
Columbia Moderate 529 Port A - Static — CT Private Equity Trust — Shareholder Meeting (May 2024)
33 slides from Columbia Moderate 529 Port A - Static's shareholder meeting presentation, May 2024
Slide 1: CT Private Equity Trust PLC Annual General Meeting
CTEA5695231.2, UK CT Private Equity Trust PLC Annual General Meeting May 2024
Slide 2: Investment risk
Investment risk The value of investments and income derived from them can go down as well as up as a result of market or currency movements and investors may not get back the original amount invested. The fund may invest in private equity funds which are not normally available to individual investor
Slide 3: Contents
Contents Section 1 2023 Highlights Section 2 Executive summary 2023 and Q1 2024 Section 3 Net Asset Value progression, Net Asset Value and Share Price total returns Section 4 Outstanding commitments and gearing Section 5 Investments and realisations Section 6 Largest holdings and portfolio diversifi
Slide 4: 2023 Highlights
2023 Highlights 31 December 2023 NAV of £511m +2.8% NAV total return Dividends of 27.98p 6.0% dividend yield1 Well diversified and resilient portfolio Past performance should not be seen as an indication of future performance. NAV = Net Asset Value 1 Dividends declared for the year (27.98p) / share
Slide 5: Co-investment portfolio statistics
Co-investment portfolio statistics Revenue EBITDA £62.7m** £10.8m** 17%* Average revenue 29%* Average EBITDA Revenue growth EBITDA growth Median Median revenue EBITDA £42.0m** £6.0m** * LTM to 31 December 2023; ** Translated at FX rates at 31 December 2023 Source: Columbia Threadneedle Investments a
Slide 6: Underlying holdings
Underlying holdings Movement in underlying holdings* Average uplift on exit 4x 3.0x 3x 2.4x 3x 2x 2x 29% average uplift on exit 1x 1x -- Average valuation 3 months prior to Average exit return exit c.500 underlying holdings in the portfolio*, with c.9% of companies in the portfolio exiting in the
Slide 7: Underlying holdings
Underlying holdings Number of exits by sale type Exits by geography by value returned 70% 100% 90% 60% 80% 50% 70% 60% 39% 60% 40% 50% 40% 30% 40% 30% 20% 13% 12% 20% 9% 8% 10% 7% 10% 3% 3% 3% 2% 1% --% --% --% --% Trade sale Private equity IPO Management sponsor Exit to financial sponsors the mos
Slide 8: Executive summary Q1 2024
Executive summary Q1 2024 Portfolio continues to make good progress Past performance should not be seen as an indication of future performance. Q1 2023 Q2 2023 Q3 2023 Q4 2023 2023 Q1 2024 NAV total return -0.2% -2.1% 3.3% 1.9% 2.8% -1.4% Share price total return 6.8% 7.9% 0.4% 1.6% 17.6% -4.6% Real
Slide 9: Four new investments in Q1 2024
Four new investments in Q1 2024 Four primaries Investment Description Geography Commitment Fund Size European lower mid-market buyout fund with a sustainable investment Agilitas HIF Northwest Europe €5.0m €250m* objective of helping people that are disadvantaged or in need UK lower mid-market growth
Slide 10: Jollyes Recent exit – top 10 holding
Jollyes Recent exit – top 10 holding Leading UK large format pet retailer CTPET invested £4.7m for a 16.7% stake in May 2018 Investment rational and performance: Large and growing market – UK pet products and services market was £7bn in 2017, forecasting growth of c.5% per annum, and had pro
Slide 11: Coretrax Recent exit – top 10 holding
Coretrax Recent exit – top 10 holding CTPET invested £6.6m for a 12.4% stake in 2018 Investment rational and performance: Leading provider of wellbore clean-up and plug and abandonment technology principally to Saudi Arabia and the North Sea Coretrax has significantly increased its portfolio
Slide 12: Net Asset Value progression
Net Asset Value progression Ordinary Share NAV & Dividends Past performance should not be seen as an indication of future performance. 1000 Pence per share on fully diluted basis 900 800 700 600 500 400 300 200 100 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 202
Slide 13: Share Price/NAV Total Returns – Indexed
Share Price/NAV Total Returns – Indexed CT Private Equity Trust PLC NAV & Share Price Total Returns Past performance should not be seen as an indication of future performance. 1,400 4.4x 1,200 market gains 1,000 800 600 400 200 - Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15
Slide 14: Fund performance
Performance 5 year Fund performance Past performance should not be seen as an indication of future performance. 130 Percentage Change 80 30 (20) Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Share price total return NAV total return Cumulative performance (%) 3 Months Year to date 1 Year 3 Years 5 Years
Slide 15: Outstanding commitments
Outstanding commitments Ordinary Shares Outstanding Commitments & Net Asset Value Past performance should not be seen as an indication of future performance. 600 120% 500 100% 400 80% 300 60% 200 40% 100 20% 0 0% Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 Sep-17 Sep
Slide 16: Net debt analysis
Net debt analysis Ordinary Shares Net Debt Analysis Past performance should not be seen as an indication of future performance. 700 50% 600 40% 500 30% 400 20% £m 300 10% 200 0% 100 0 -10% Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20 Sep-21
Slide 17: Recent co-investment summaries
Recent co-investment summaries Lead manager: Volpi Capital Cyclomedia Key Attractions Cyclomedia was founded in 1980 in High performing asset well known to GP – Volpi invested in Cyclomedia in August 2018, since the Netherlands and has developed when it has demonstrated strong and consistent growt
Slide 18: Recent co-investment summaries
Recent co-investment summaries Lead manager: SGT Capital Utimaco Key Attractions Founded in 2013, Utimaco develops Mission critical business nature – Utimaco is a global leading provider of mission critical on premises and cloud-based professional cybersecurity and data intelligence solutions for
Slide 19: Recent co-investment summaries
Recent co-investment summaries Lead manager: Scottish Equity Partners Braincube Key Attractions Braincube is an industrial software Niche market leader in an attractive market – Specialised in continuous manufacturing with strong Industrial provider to the manufacturing digital twin and analytic a
Slide 20: Recent co-investment summaries
Recent co-investment summaries Lead manager: Aurica Capital Educa Edtech Key Attractions Founded in 2007 and based in Strong secular tailwinds – The online education sector is expected to grow at double-digit rates in Education Spain, Educa Edtech Group is an the coming years driven by (i) technol
Slide 21: Significant realisations in 2024 to date
Significant realisations in 2024 to date Investment Description Geography PE House Return TVPI IRR Jollyes UK pet retailer UK Kester Capital £18.3m 3.9x 27% Agilio SaaS compliance for dental market UK August Equity £3.5m 9.2x 72% Coretrax Wellbore clean-up services UK Buckthorn Partners £3.4m 1.8x 1
Slide 22: Significant drawdowns in 2024 to date
Significant drawdowns in 2024 to date Investment Description Geography PE House Value Contained Air Solutions Designer and manufacturer of microbiological safety cabinets UK Accord Investment Partners £4.1m Vital Energi Energy equipment and solutions provider UK Corran Enviromental £2.7m MedSpa Prem
Slide 23: Distributions and drawdowns
£m - 100.00 120.00 20.00 40.00 60.00 80.00 (100.00) (80.00) (60.00) (40.00) (20.00) H1 2003 H2 2003 H1 2004 H2 2004 H1 2005 H2 2005 H1 2006 H2 2006 H1 2007 H2 2007 Source: Columbia Threadneedle Investments as at 31 March 2024 H1 2008 H2 2008 H1 2009 Distributions H2 2009 H1 2010 Distributions and
Slide 24: Largest underlying holdings
Largest underlying holdings Value % of Net No Investment Description Lead Manager TVPI * IRR * (£m) Assets 1 Pet chain retailer 18.9 3.8% 3.9x 27.5% 2 Electronic components provider 15.9 3.2% 2.4x 14.8% 3 Wellbore clean-up, abandonment and decommissioning services 13.9 2.8% 1.8x 12.3% 4 Waste manage
Slide 25: Well diversified by geography and vintage year
Well diversified by geography and vintage year Split by geography Split by vintage year 45% 42% 18% 17% 40% 16% 15% 14% Percentage of portfolio value Percentage of portfolio value 35% 14% 13% 13% 12% 30% 12% 25% 10% 20% 17% 8% 6% 15% 6% 5% 9% 10% 7% 4% 3% 5% 4% 4% 4% 4% 5% 2% 2% 1% 1% 2% 0% 0% 0% RO
Slide 26: Diversified by Sector
Diversified by Sector Underlying portfolio split by sector Banks 0.1% Real Estate Diversified Financials 0.5% Utilities 0.5% Insurance, 1.0% Construction Materials Telecommunication Services 1.1% 0.2% Containers & Packaging, 0.4% Financials Metals & Mining, 1.4% Materials Food & Beverage Manufacturi
Slide 27: Conclusion and Outlook
Conclusion and Outlook The Company has continued its resilient performance The broadly based portfolio continues to prove resilient to the cumulative effects of the post-COVID period, high energy prices, inflation and rising interest rates New borrowing facilities are in place for the next three
Slide 28: Appendices
COLUMBIA THREADNEEDLE™ ALTERNATIVES Appendices
Slide 29: Ordinary shares discount to NAV
Ordinary shares discount to NAV Ordinary shares discount to NAV – 10 years 20 10 0 -10 -20 -30 -40 -50 -60 Nov-14 Nov-15 Nov-16 Nov-17 Nov-18 Nov-19 Nov-20 Nov-21 Nov-22 Nov-23 May-14 May-15 May-16 May-17 May-18 May-19 May-20 May-21 May-22 May-23 May-24 CTPET Private Equity Investment Trusts (excl.
Slide 30: NAV total return for CTPET & peer group
NAV total return for CTPET & peer group NAV total return – 10 years 450 400 350 300 250 200 150 100 50 0 Nov-14 Nov-15 Nov-16 Nov-17 Nov-18 Nov-19 Nov-20 Nov-21 Nov-22 Nov-23 May-14 May-15 May-16 May-17 May-18 May-19 May-20 May-21 May-22 May-23 May-24 CTPET Patria Private Equity Trust (formerly Abrd
Slide 31: Share price total return of CTPET & peer group
Share price total return of CTPET & peer group Share price total return – 10 years 400 350 300 250 200 150 100 50 0 Nov-14 Nov-15 Nov-16 Nov-17 Nov-18 Nov-19 Nov-20 Nov-21 Nov-22 Nov-23 May-14 May-15 May-16 May-17 May-18 May-19 May-20 May-21 May-22 May-23 May-24 CTPET Patria Private Equity Trust (fo
Slide 32: Contact Us
Contact Us Columbia Threadneedle Investments Hamish Mair Managing Director and Head of Private Equity 78 Cannon Street +44 (0) 131 573 8314 London EC4N 6AG [email protected] Tel: +44 (0) 20 7628 8000 Andrew Carnwath Director, Private Equity Columbia Threadneedle Investment Busines
Slide 33: Disclaimer
Disclaimer Important information: Your capital is at risk. This financial promotion is issued for marketing and information purposes only by Columbia Threadneedle Investments in the UK. The material relates to an investment trust and its Ordinary Shares are traded on the main market of the London St
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