BeBeez Trading Floor roundup with eToro support about the performances of private capital firms listed on global exchanges.
The persistent uncertainty over the course of the conflicts in the Middle East leaves no room for expectations of an easing in the energy markets, and therefore of a fall in prices and interest rates on both sides of the Atlantic, the private capital stocks that BeBeez and eToro monitor on Trading Floor had a broadly positive week, with over two-thirds of the 45 stocks in the portfolio up on the previous week. The market sentiment improved towards the asset class, particularly private credit.
In 2Q26, the Ebitda of London-listed Bridgepoint Capital (14.1%) posted a 78% growth after a 42% increase of commissions income. The performance fees more than doubled at 120.7 million GBPs grace to the fund’s exits and the performance of the infrastructures vehicle ECP V. Bridgepoint is also close to hitting the 2024- 26 fundraising target of 28 billion euros as it already attracted 23 billion euros (quarterly presentation).
Paris-listed Eurazeo (+6%) and London-listed Intermediate Capital Group (+5.9%) benefited of technical trading. Eurazeo stock (YTD –19.4%) recovered from the 39,98 euros low and traded for some time at multiples below the market average. An improvement in market sentiment is having a positive impact on the share price. The same considerations esssentially apply to Intermediate Capital.
NYSE-listed Apollo Commercial Real Estate Finance (-33%) lost a third of its value because both its income performance and the results of its loan portfolio have been so poor that the group’s senior management decided in mid-June to wind up the subsidiary.
Following a disastrous 2024 that ended with a loss of 132 million US Dollars, mainly due to an 82 million write-down on the 300 million loan for the ambitious and extremely costly Steinway Tower project in New York, where sales are far below expectations, and after selling the 9 billion loan portfolio to Athena at par value, the business unit became a cash shell with 1.4 billion in idle cash after it paid back debts.
The group therefore decided to wind up the company, resolving to distribute a dividend of 3,75 US Dollars per share, which is effectively a return of capital on 16 July, Thursday (press release). The share price, which is no longer part of the S&P BMI index, will continue to fall until it reaches zero ahead of a delisting.
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