Private Equity Holding

What Private Equity Holding does

Private Equity Holding AG (SIX: PEHN) is a Swiss-listed investment holding company domiciled in Zug that offers institutional and private investors access to a broadly diversified private equity portfolio through selective fund investments, secondary-market fund interest acquisitions, and direct co-investments. The company has been listed on the SIX Swiss Exchange under ticker PEHN since January 18, 1999, operates with an investor relations office in Zurich, and benefits from Swiss holding status that optimizes tax treatment for its portfolio of offshore subsidiaries. Portfolio management is outsourced to Amundi Alpha Associates, a specialist private equity, private debt and infrastructure investment manager, with investment and portfolio management services also provided by C+E L.P., which holds over 33.33% of the share register.

The company's product surface comprises three integrated lines: fund investments (including commitments to managers such as Sycamore Partners and Eagletree Partners, and the ALPHA CEE II and ALPHA CEE III funds), direct co-investments (including a U.S.-leading branded wood pellets manufacturer held since 2002, UK-based Shawbrook Bank which completed its London Stock Exchange IPO on October 30, 2025, and an AI-powered pricing analytics SaaS provider for insurers and banks), and reporting services (monthly NAV disclosures, quarterly and annual IFRS-compliant financial reports, AGM communications and a subscription-based alert service). As of March 31, 2026, the fund-investment sleeve is allocated 43% to buyout, 30% to venture and 12% to special situations, with total portfolio exposure of EUR 515.2 million (fund investments at EUR 438.7 million fair value plus EUR 115.2 million unfunded; direct investments at EUR 76.5 million). NAV per share stood at EUR 158.65 as of June 30, 2026, and market capitalization was CHF 154 million at the March 31, 2026 year-end.

PEH's economic model is that of a pass-through investment holding company rather than a product/service business: portfolio returns are partially reinvested and partially distributed to shareholders, with a CHF 1.00 per share distribution approved for FY 2025/2026. Operating expenses consist of management fees payable to C+E L.P. (75% on total NAV at 1.5% p.a. and 25% on market capitalization at 2% p.a., plus 1% p.a. on the fair value of the direct portfolio, with C+E-managed funds excluded) and a fixed quarterly service fee of CHF 125,000 to Amundi Alpha Associates; a performance fee of 10% of the increase in shareholders' equity is payable subject to a 6% p.a. hurdle rate and High Watermark test. Distribution is exclusively via the SIX Swiss Exchange, with 2,550,000 registered shares (nominal value CHF 6.00, one share / one vote) traded under ISIN CH 000 608 9921.

Name

Private Equity Holding

Legal name

Private Equity Holding AG

Website

https://peh.ch

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

Private Equity Holding AG (SIX: PEHN) is a Swiss-listed investment holding company offering institutional and private investors diversified access to a private equity portfolio through fund investments and direct co-investments, managed by Amundi Alpha Associates.

Ownership category

akta.pro rank

Product category

Listed Private Equity Fund of Funds

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Private Markets Fund of Funds (PE / VC / Private Credit FoF) (FSAHAKAF)

akta.pro secondary industry

Private Equity Buyout Fund-of-Funds (FSANAGAD)

Keywords

• Private equity fund of funds
• Listed investment company
• Portfolio investment services
• Direct co-investments
• Asset management holding

Headquarters

HQ city

Zug

HQ country

Switzerland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Others

Revenue model

1. Management Fees: C+E L.P. provides investment and portfolio management services to PEH Group. Management fee is based 75% on total net asset value (1.5% p.a.) and 25% on market capitalization (2% p.a.) plus 1% p.a. of the fair value of the direct portfolio. PEH also pays a fixed quarterly service fee to Amundi Alpha Associates Ltd. of CHF 125,000 for support services.
2. Performance Fees: Performance fee of 10% of the increase in shareholders' equity subject to a hurdle rate of 6% p.a. and High Watermark test.
3. Portfolio Investment Returns: Income from the portfolio is partially reinvested, as well as passed on to shareholders as annual distributions. Portfolio generates returns through fund investments, secondary market fund interest acquisitions, and direct co-investments.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Private Equity Holding AG (PEH) is a Swiss-listed investment company that offers institutional and private investors the opportunity to invest in a broadly diversified private equity portfolio. The portfolio combines selective fund investments (primary commitments and secondary acquisitions of fund interests) with direct co-investments in operating companies, and is professionally managed by Amundi Alpha Associates within a tax-efficient Swiss holding structure. Portfolio income is partially reinvested and partially distributed to shareholders as annual dividends.

Product overview

Private Equity Holding AG is a single, unified investment vehicle structured as a Swiss stock corporation listed on SIX Swiss Exchange. The company operates as a private equity fund of funds with three integrated product lines: (1) Fund Investments encompassing primary fund commitments, secondary acquisitions, and managed funds like Sycamore Partners and Eagletree Partners; (2) Direct Co-Investments providing targeted exposure to specific portfolio companies including an AI-powered pricing analytics software provider and a wood pellets manufacturer; and (3) Reporting Services delivering monthly NAV updates, quarterly reports, and annual financial statements. The portfolio is managed by Amundi Alpha Associates using a fee structure combining asset-based and performance-based components.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Equity Portfolio Investment Vehicle (Listed Fund of Funds)

Quantifiable outcome

• NAV per share: EUR 158.65 as of June 30, 2026
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Amundi Alpha AssociatescoreStrategic or Co-development PartnerAmundi Alpha Associates is a professional manager of global portfolios specialized on private equity investments and the management of private equity fund of funds. They manage PEH's investment portfolio and provide support services including assistance with financial reporting and investor relations. PEH pays a fixed quarterly service fee of CHF 125,000 for these support services.
• C+E L.P.coreStrategic or Co-development PartnerC+E L.P. provides investment and portfolio management services to PEH Group. The management fee is structured as 75% on total NAV (1.5% p.a.) and 25% on market capitalization (2% p.a.) plus 1% p.a. of direct portfolio fair value. Performance fee is 10% of shareholders' equity increase with 6% hurdle rate and High Watermark test. Funds managed by C+E L.P. (ALPHA CEE II and ALPHA CEE III) are excluded from NAV for fee calculation.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Partners Group: Swiss-listed (SIX: PGN) global private markets investment manager with broad buyout, growth, private debt, real estate and infrastructure franchises. Broader incumbent serving a similar institutional/wealth-investor base; PEH's mandate (fund-of-funds + co-invest) overlaps with Partners Group's flagship primary and secondary PE strategies.
• EQT AB: Stockholm-listed (STO: EQT) global alternative-asset manager operating across PE, growth, infrastructure, real estate and venture. Larger incumbent offering PE product that competes for the same institutional and private wealth dollar as PEH, with end-investor vehicles comparable in structure.
• Investcorp: Bahrain-listed and US-listed (NASDAQ: INVC) alternative-asset manager with PE, credit, real estate and strategic capital businesses. Broader incumbent with private equity fund-of-funds heritage and a strong HNW/institutional distribution franchise comparable to PEH's target segments.
• StepStone Group: Nasdaq-listed (STEP) global private markets investment firm focused on fund-of-funds, co-investments and secondaries across PE, VC, credit and real assets. Directly comparable to PEH's manager (Amundi Alpha Associates) in the PE FoF/co-invest space and offers an alternate listed-vehicle route for similar investors.
• 3i Group plc: London-listed (LON: III) PE/infrastructure investment company combining a listed fund-of-funds-style vehicle with proprietary PE operating capability. Comparable publicly listed PE investment company with a similar institutional investor base.

Direct peers

• Princess Private Equity (PPET): London-listed investment trust investing in a globally diversified portfolio of private equity fund investments and direct/co-investments. Closely matches PEH's product structure (fund + direct co-investments, listed NAV-reporting vehicle) and target investor base (institutional and private).
• HarbourVest Global Private Equity (HVPE): LSE-listed investment company managed by HarbourVest Partners providing diversified private equity exposure across buyout, venture and mezzanine funds plus co-investments. Direct structural peer to PEH: both are publicly traded fund-of-funds offering monthly/quarterly NAV with similar capital-allocation mandates.
• Pantheon International (PIN): LSE-listed fund-of-funds (Pantheon International plc) focused on secondaries, co-investments and primary fund commitments across PE, VC and infrastructure. Closely comparable to PEH's mix of primary fund investments, secondary acquisitions and direct co-investments, including a similarly structured listed-vehicle delivery model.
• abrdn Private Equity Opportunities (APEO): LSE-listed investment company managed by abrdn (formerly abrdn Private Equity) targeting secondary PE fund interests and co-investments. Overlaps directly with PEH's secondary-market fund acquisitions and direct co-investment lines.

Emerging players

• Aether Capital Partners: London-listed closed-ended investment fund targeting smaller, entrepreneurial European buyout and venture opportunities. Smaller, emerging listed PE vehicle pursuing a similar primary/co-invest thesis to PEH but with a more micro-cap focused mandate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Private Equity Holding