DeA Capital - Strong H118 investment return and cash flow
DeA Capital experienced slightly weaker assets under management (AUM) in H118, driven by Q2 liquidation of real estate assets by maturing funds, but management expects this to reverse in H2. The returns on co-investment in funds managed were very positive, generating NAV gains and strong cash flow to support the continuation of attractive distributions and further investment in growth of the alternative asset management (AAM) platform. The shares are yielding more than 9% and trade at a discount of more than 30% to our adjusted NAV of €1.91 per share.DeA Capital is an alternative investment operator based in Italy. Co. which operates in both the Private Equity Investment and Alternative Asset Management businesses and heads the De Agostini Group in the area of financial investments. Co., which has "permanent" capital, and therefore is not restricted to a pre-set duration, has greater flexibility in optimizing the timing of entry and withdrawal from investments. In terms of investment policy, this flexibility allows Co. to adopt an approach based on value creation over the medium to long term. Co. maintains an investment portfolio of around Euro780 million and assets under management of approximately Euro11 billion.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.