Net Asset Value(s)

Listed Private Equity UCITS (Name: LISTD PRIVTE EQTY UCITS, ISIN: IE0008ZGI5C1) reported a net asset value per unit of USD 34.2665 as of the valuation date 2026-01-26. The fund shows 10,591,022.0000 units outstanding and the NAV was published on Tue Jan 27, 2026 at 08:00 CET. This update provides the latest valuation data for investors monitoring holdings and position sizing in this listed private equity vehicle.

Analysis

Market structure: The NAV print for a Listed Private Equity UCITS (IE0008ZGI5C1) signals steady private-markets pricing with limited public re-rating pressure; winners are large listed managers (BX, KKR, APO, CG, PGHN.SW) who benefit from fee recycling and secondary activity, losers are closed-end or small listed PE vehicles trading at >15% discounts that suffer liquidity premiums. Supply/demand: constrained new primary supply and growing secondary transaction volume point to tighter pricing for quality assets over 6–18 months; listed PE discounts/premiums will drive capital flows more than fundamentals.

Risk assessment: Tail risks include a forced-redemption episode in UCITS wrappers causing fire-sales (3–6 months) and regulatory shifts in EU disclosure rules that could re-price illiquidity discounts (6–24 months). Hidden dependencies: portfolio-level leverage, FX mismatches (USD NAV vs. euro/GBP listings) and exit timing create correlation with public equity drawdowns; catalyst set includes quarterly NAVs, rate cuts (positive for revaluation) and a pick-up in M&A activity.

Trade implications: Favor 6–12 month long exposure to top-tier asset managers (BX, KKR, APO) sized 2–4% each; opportunistic buys of listed PE vehicles or LPX-style ETFs when discount >15% (target close to 5%). Use pair trades (long BX / short ARKK or single-stock growth ETF) to hedge cyclicality, and implement 9–15 month call spreads to capture re-rating while capping premium outlay.

Contrarian angles: Consensus underestimates speed at which secondary markets can compress discounts if M&A accelerates; discounts are often over-sold—buy triggers: >15% discount to realized NAV, expected compression to 5–8% within 6–12 months. Historical parallels: post-rate-cut windows (2019–20) saw rapid tightening of listed-PE discounts; unintended consequence—retail inflows into closed wrappers can amplify short-term volatility.

Key Decisions for Investors

• Establish a 2–3% long position in Blackstone (BX) with a 6–12 month horizon, target +20–30% total return if PE realizations and fee-related earnings pick up; set a hard stop-loss at -12% and trim at +25%.
• Allocate 1–2% to KKR (KKR) and 1% to Apollo (APO) as yield-plus-growth exposure; use position sizing to keep combined listed-PE exposure ≤8% of risk budget and rebalance on quarterly NAV releases.
• Deploy a relative-value pair: long BX (1.5%) vs short ARKK (0.75%) for 6–9 months to capture rotation from high-multiple public growth to fee-bearing private-asset managers; adjust weights to be dollar-neutral.
• Buy 9–15 month call spreads on BX or KKR (buy LEAP/long-dated calls, sell higher strike) to express a constrained upside view while limiting premium; target net cost ≤2% of notional and pairing with protective puts if market volatility >VIX 18–20.
• Opportunistically buy listed private equity ETFs or closed-end PE vehicles when market discount to NAV >15% (establish positions sized 0.5–1% and target discount tightening to ≤5–8% within 6–12 months); avoid if regulatory/UCITS redemption headlines occur in next 30–60 days.