StockMarketWire.com - Private equity fund JZ Capital Partners' net asset value totalled $643m at the end of the first quarter - 5.4% up on a year ago.

JZCP said $80.4m from realisations included $38.6m received from its investment in Horsburgh and Scott for a 1.8x multiple of capital invested and a 13% internal rate of return; $33.9m received from the refinancing and related activities of a portion of Industrial Service Solutions (post period) and $7.9m received from the redemption of the whole of its investment in the notes of HAAS.

JZCP said it made a $4.0m investment in a third real estate property in Brooklyn and had a significant pipeline of potential high quality investments in both the US, Europe and Latin America.

JZCP founder and investment adviser David Zalaznick said: "We have built on the momentum gained during the previous year by making several realisations during the quarter which have strengthened our balance sheet.

"Despite the challenging market environment, the underlying performance of the company's assets in both the US and Europe has been strong.

"We are examining a significant number of potential investment opportunities in both the US and Europe and are well positioned to make further progress for our shareholders over the coming year."


At 8:53am: [LON:JZCP] share price was 0p at 487.5p



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