The Pengana Private Equity Trust (ASX:PE1) returned -0.7% over December largely as a result of an appreciation in the AUD:USD exchange rate.
The Trust announced a semi-annual distribution of $0.0330 per unit with an ex date of 3 January 2023 and a payment date of 23 January 2023, targeting a 4% p.a. distribution yield.
The Trust's investment activity included a co-investment in RANDYS Worldwide Automotive, a distribution from GCM Grosvenor Multi-Asset Class Fund II, and a commitment to a continuation fund to finance the acquisition of Schneider Logistics Group.
Additionally, the Trust committed to a secondary investment involving the acquisition of five middle-market funds managed by three different private equity firms, purchased at an aggregate discount of ~20%.
The cumulative NAV per unit return since inception (23 April 2019 to 31 December 2022) was 11.9%.
Investment activity is subject to risk, including a possible delay in repayment and loss of income and principal invested.