JZ Capital Partners Limited (JZCP), the London listed closed ended investment company which principally invests in US and European micro cap buyouts, has seen its NAV per share increase 6 per cent during Q1 2011 and now stands at USD9.03 (on an annualised basis) up from USD8.93.
The company’s interim management statement for the quarter also reveals that there has been a further narrowing of the firm’s NAV discount to 23%.
European investments also increased by USD31.5 million over the first quarter, following the investments in two Spanish companies, Docout and Ombuds.
JZCP has also made its first USD7.7 million acquisition in water treatment “vertical” of Nashville Chemical, a manufacturer of industrial water systems products, while an additional USD1.0 million investment has been made in Milestone Aviation, a helicopter leasing business.
Some 22.8% of the firm’s position in TAL International Group was sold in Q1 in a secondary share offering, creating a gain of USD10.8 million. At the end of the period, JZCP’s portfolio consisted of 42 companies across eight industries.
David Zalaznick, Founder and Investment Advisor of JZCP, says: “I am delighted that the underlying investments in the portfolio continue to perform well. Our ongoing commitment to provide shareholders with a diversified pool of assets through our value-orientated investment strategy has resulted in the successful completion of two new investments in Spain.”
