The Listed Private Equity recorded a significant value increase at the beginning of the year and outperformed the broader equity market. All portfolio segments contributed positively to the monthly performance, whereby the alternative asset managers achieved the largest increase in value. Investors reacted positively to the recovery in market valuations and anticipate higher performance fees. A positive example of an alternative asset manager was the UK-based Intermediate Capital Group (ICG). ICG was the first asset manager to publish quarterly results and announced that a further EUR 2 billion have been raised. The fee
earning AuM increased by 7.2% in the last three months. HBM Healthcare also performed well. The Swiss based investment company convinced investors with an NAV increase of 3.9% from 31 December 2018 to 15 January 2019. HBM also benefited from the positive performance of several portfolio companies. Furthermore, the company was able to announce four further investments in private companies in addition to follow-up financings.
