J&T ARCH INVESTMENTS, a fund for qualified investors, closed the third quarter of this year with assets of CZK 9.7 billion. Over the previous 12 months, the net asset value per investment share had grown by 12.17% in the case of a crown-denominated share and by 11.98% in the case of a euro-denominated share. As of 30 September, the value of an investment share was CZK 1.1255 or EUR 1.1224, respectively.
The Fund’s assets under management expanded by 31% quarter on quarter. The increase is due not only to appreciation of the existing portfolio, but mainly to a new primary subscription of investment shares in the amount of approximately CZK 2.2 billion.
J&T’s founders have big plans for the Fund, which already is one of the most liquid titles on the Prague Stock Exchange. In the third quarter, the Fund broadened its portfolio to include investments in the energy, property development, and private education sectors.
The Fund’s largest individual investment to date– in the amount of EUR 140 million – was executed through the J&T ALLIANCE fund, whereby it acquired a minority stake in the J&T CAPITAL PARTNERS holding company. Thatoperation is directed to buyingout and pooling the shares owned by Patrik Tkáč and the J&T group in joint investment projects with Daniel Křetínský and his management team. As of 30 September, the holding owned a 44% stake in Energetický a průmyslový holding, a leading Central European energy group.
In the area of property development, J&T ARCH INVESTMENTS had already invested into the J&T PROPERTY OPPORTUNITIES fund, which is engaged in constructing logistics parks in Ostrava-Mošnov and Nošovice. During the third quarter, sales agreements were concluded with the EQT Exeter global real estate fund, and settlement of that transaction will occur in several phases upon the completion of individual halls. The Fund’s portfolio was also expanded by two smaller residential and retail development projects in Slovakia.
In September, the J&T ARCH INVESTMENTS portfolio was also enlarged through JTFG FUND I by co-investing in a 23% minority stake of the JK Education group. That group, led by Ondřej Kania, operates a network of American Academy primary and secondary schools in Prague, Brno, Bratislava, and newly also in Zagreb, Croatia. It also owns the Pražské humanitní gymnasium secondary school and operates a range of activities in the field of intermediating admissions to prestigious foreign secondary schools and universities.
The see the composition of the Fund’s portfolio as of 30 September 2021, click here: www.jtarchinvestments.cz