KBC Securities - Holdings Report - October Discussing Europes accelerating PE landscape, our recent price target change for Whitestone, and the decoupling of Sofinas correlation with the NASDAQ.

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KBC Securities

Livio Luyten

Holdings Report - October Discussing Europe's accelerating PE landscape, our recent price target change for Whitestone, and the decoupling of Sofina's correlation with the NASDAQ.

We're excited to share our latest report on Europe's accelerating private equity landscape, our updated Whitestone price target, and the decoupling of Sofina's correlation with the NASDAQ.
European PE dealmaking surged 25% QoQ in Q3, fueled by rate cuts and add-on dominance, with mid-market exits proving resilient amid a decade-high backlog. Whitestone delivered a strong 1H25, with NAV up 14% to €17.1/share, led by GFI's gold-driven boom—prompting us to raise our target from €14.0 to €15.0. Meanwhile, Sofina trades at a narrower NAV discount than peers, thanks to proactive communication, high-growth focus, and proven performance—despite recent NASDAQ decoupling. Click below to read the full analysis.

06/11/2025 1 EN

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KBC Securities

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Analysts

Livio Luyten

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Holdings Report - October Discussing Europe's accelerating PE landscape, our recent price target change for Whitestone, and the decoupling of Sofina's correlation with the NASDAQ.

We are a financial services provider for several types of professional clients, each with distinct needs.

CTP Conference Call lifts the lid on Vietnam expansion

Titan Better than expected 3Q results and positive outlook. All eyes on CMD.

Solvay FIRST LOOK: 3Q underl. EBITDA supported by sale of CO2 emission rights

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