In August, Partners Group Listed Investments SICAV – Listed Private Equity continued to increase in value. All segments contributed positively to the monthly performance. Particularly, US business development companies (BDCs) benefited from the published financial results.
Goldman Sachs BDC was especially convincing in the second quarter of 2018. The US-based firm increased the net investment income by 6.4% per share compared to the last quarter. Furthermore, the shareholders had approved an increase of leverage to realize further growth potential as a company.
On the other hand, the Danish Holding-Company Schouw developed negatively in the reporting month. The management has reduced the EBITDA outlook for their largest portfolio company BioMar. The manufacturer of food products for the fish farming industry is suffering under currently increased competition.
Another highlight was the performance of Brookfield Business Partners (Brookfield). The global direct investment company convinced its investors with the quarterly results. Brookfield increased operating profit by 311% compared to the same quarter last year. The firm took advantage of the attractive selling environment and sold Quadrant Energy for USD 2.15 billion. On the investment side, Brookfield closed the acquisition of Westinghouse Electric Company, a provider of infrastructure services to the power generation industry, and Schoeller Allibert, one of the biggest European manufacturers of returnable plastic packaging systems.