East Capital Explorer publishes Q1 Report 2016
Key events during the first quarter · Net Asset Value (NAV) per share was EUR 9.00, unchanged since December 2015. Total NAV was EUR 253m · An agreement was reached to sell the holding in Starman to Providence Equity for approx. EUR 81m, corresponding to a net IRR of 24-27%, with additional earn-out potential payable in 2017 of up to EUR 5m. The transaction, expected to close in Q2, entails a carried interest liability to East Capital of EUR 6.5m, included in the Q1 NAV · The Real Estate segment increased in value by 2.3%, and Private Equity by 3.3%, while Public Equity decreased