· Record investment performance and solid fundraising levels bring total assets to $1.5 billion
· Total of $167 million invested during 2020 across all strategies including Venture, Buyout and Secondary
· Investment gains increased by $110 million in Q1 2021 to reach a total of $614 million since inception
GENEVA, May 11, 2021 /PRNewswire/ -- ACE & Company, a global investment management group specialized in direct investments based in Geneva, has announced its 2020 results, with total assets reaching $1.5 billion, an increase of 37% year-to-date. Despite tough economic conditions caused by the global COVID-19 pandemic, the company witnessed a record $327 million of investment profits across ACE's portfolios in 2020, representing 38% gain for the year. The trend has continued through to 2021 with an additional $100 million gain from its portfolio companies.
During 2020, returns were generated from several sources. Eight of ACE's portfolio companies transacted with Special Purpose Acquisition Companies (SPACs) with recent indicative multiples being: Momentus Space (20x), Chargepoint (5.8x), and Eos Energy (2.4x) within ACE's Venture strategy as well as Global Blue (3.4x), Clarivate (3.0x), Multiplan (1.7x), Paysafe and Cyxtera in its Buyout funds with the last two still in progress.
In addition, ACE saw five of its portfolio companies exit via IPO with PetSmart's Chewy (9.1x), Rede D'Or (3.3x), GoHealth (3.0x), and GFL Environmental (2.5x) benefiting the ACE Buyout strategy and Airbnb (3.5x) generating further gains for the Venture portfolio. As of year-end, the company's latest fully invested vintages, ACE Buyout III and ACE Venture Opportunities II, occupied first quartile positions along with several ACE Secondary funds.
Adam Said, Cofounder and CEO of ACE & Company said, "I am extremely proud of the team's effort throughout an extraordinarily challenging year. COVID has exacted a tragic toll on health, lives, and livelihoods of millions globally. But despite the massive economic uncertainty, our teams are helping investors pivot their strategies away from the ephemeral and short term towards sustainable and long term investments in the post pandemic world. In doing this, our market knowledge in sectors such as technology, retail, e-commerce and energy efficiency, as well as our team's patience and persistence, have been the best drivers of success. After 15 years of hard work at ACE, we have anchored our position in private equity through many learnings that strongly differentiate us."
"Given our experience in 2020, ACE & Company is energized to face the challenges and opportunities of 2021. The team is already executing on a healthy pipeline of attractive investments across all actively investing vintages, ACE Secondary V, ACE Buyout IV, and ACE Venture Opportunities III. Looking forward, ACE will aim to tactically invest in leading companies that are well positioned to thrive amid the economic recovery of the coming years. In response to investor interest, we have also built an Investment Solutions effort to support our investors with their broader private market interests. ACE's offering cements the company's unique position of strength in Switzerland as a global investment management platform with unparalleled access to direct investments for private investors with attractive fee structures."
ABOUT ACE & COMPANY
ACE & Company ("ACE"), founded in 2005, is a global investment management platform with total assets of $1.5 bn across three investment strategies. It is specialized in direct investments for private investors and supported by a perpetual investment group, ACE Investment Partners. ACE is uniquely positioned to understand the needs and challenges facing private investors today and provide unparalleled access to quality opportunities across the direct investment ecosystem. By combining in-house team capabilities with specialized partners, ACE is able to source, perform due diligence, and execute on superior investment opportunities across five continents. The flexible investment platform offers diverse portfolios across the stages of the investment lifecycle from early, growth, to mature. The ACE team prides itself in actively partnering with stakeholders to meet specific investment criteria and objectives and aims to actively improve investment returns by adding strategic value to both its portfolio companies as well as sourcing partners by leveraging its broad investment knowledge. ACE is regulated by the Swiss Financial Supervisory Authority FINMA in Switzerland.