B.P. Marsh sees Net Asset Value increase to £252.9m in H1’24

B.P. Marsh & Partners, the specialist private equity investor, has reported that Net Asset Value increased by £23.7 million to £252.9 million in its half-year results for the six months to July 31, 2024, representing a notable increase from £229.2 million, which the firm recorded on January 31, 2024, and £203.5 million from July 31, 2023.

According to the organisation, this equates to a Net Asset Value per share of 690.8p, compared to 629.0p from January, and  567.3p from July 2023.

In addition, the firm’s consolidated profit before tax was £29 million for the period, a solid increase from £15.6 million at six months to July 31, 2023, but down from the £43.6 million reported at the end of January 2024.

As well as this, B.P. Marsh’s total shareholder return for the period stood at 12.1%, comprising the growth in Net Asset Value and the aggregate dividends paid in March, May and July 2024.

During the period, the company completed a new investment in Devonshire UW Limited, a transactional risk Underwriting Agency.

B.P. Marsh also made a further investment into Pantheon Specialty Group Limited, acquiring a further 7% from Management, bringing its shareholding up to 32%.

However, post Period end, B.P. Marsh also completed two new further investments, including the acquisition of a 44% stake in Czech marine and liability MGA CEE Specialty in September 2024.

Then earlier this month, the firm subscribed for a 25.5% cumulative preferred ordinary shareholding in Volt, a London-domiciled start-up managing general agency (MGA).  As part of the investment, B.P. Marsh has provided funding of up to £2.5 million via both equity and a loan facility, which has been partially drawn upon completion.

Furthermore, B.P. Marsh’s Board welcomed Francesca Chappell as Chief Finance Officer in September 2024, following the departure of Jonathan Newman.

Commenting on the company’s results, Brian Marsh OBE, Chairman, said: “We are pleased to report another strong set of results, delivering growth in portfolio value, investment realisations and shareholder returns.

“The completion of the disposal of Paladin during the period showcases the success of B.P. Marsh’s investment model, our ability to identify opportunities and to back successful management teams.”

He continued: “We remain committed to maintaining this momentum, leveraging our expertise to drive further sustainable growth via new investment opportunities and follow-on funding.

“The Board is pleased to welcome Fran as CFO, and given her extensive experience and long-standing tenure, we believe she is well-suited to assume the role. We would also like to thank Jon for his service and wish him well for his future endeavours.”

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