BeBeez roundup with eToro support about the performances of private capital firms listed on global exchanges.
Only three out of 45 private capital stocks that BeBeez and eToro monitor on Trading Floor had weekly gains of below 4%.
Donald Trump’s announcement of 23 May, Friday, for 50% tariffs on imports from the European Union had an impact on private capital firms’ market capitalization. However, on 26 May, Friday, only 19 stocks posted losses.
The sharp rise in yields on US government debt securities also impacted private capital stocks. The yield of 30 years US Bonds rose to 5.15%, a peak since 2023 and close to 2007 levels, in the early times of subprime mortgages turmoil.
Investors are increasingly concerned about the stability of the US Government accounts, especially after the House of Representatives narrowly passed the The Big Beautiful Bill (tax reform) on 22 May, Thursday, which could open up frightening gaps in federal revenues.
Investors sold off US Treasury Bonds whose yields increased, thus making refinancing illiquid private assets harder. Furthermore, higher yields increase the discount rate of revenue streams from investments and lower the Nav per share.
At the closure of trading of 23 May, London-listed alternative asset manager 3i’s market capitalization posted a weekly gain of +3.9%. Investors perceived the firm’s stocks as safe haven assets. Furthermore, on 15 May, Thursday, 3i said that its earnings per share in 2024 amounted to 5.22 GBPs (4 GBPs in 2023) (press release).
Frankfurt-listed Mutares market capitalization (+2.7%) benefited of its 2024 results even though the company released them later than due as its auditor Deloitte required further information about troubled portfolio asset Serneke Sverige AB (see here a previous post by BeBeez). Mutares turnover increased by 12% for a total of 5.2 billion euros (press release).
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