JZ Capital Partners Limited - Annual results for the year ended 28 February 2026

JZ CAPITAL PARTNERS LIMITED (the "Company" or "JZCP")

(a closed-end investment company incorporated with limited liability under the laws of Guernsey with registered number 48761)

 

ANNUAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2026

 

LEI: 549300TZCK08Q16HHU44

 

(Classified Regulated Information, under DTR 6 Annex 1 section 1.2)

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ( "MAR" ).

 

12 June 2026

 

JZ Capital Partners Limited, the London listed fund that has investments in US and European micro-cap companies and US real estate, announces its preliminary results for the year ended 28 February 2026.  

JZCP has today released its Annual Report and Financial Statements for the year ended 28 February 2026. The Report will shortly be available for inspection via the Company's website http://www.jzcp.com.

A copy of the Annual Report and Financial Statements will be submitted to the National Storage Mechanism and will shortly be available for inspection online at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

 

Financial and Operational Highlights

• NAV per share of $4.14 (FYE 28/02/25: $4.06)
• NAV of $249.5 million (FYE 28/02/25: $274.6 million)
• On 13 March 2025, the Company effected a compulsory partial redemption of Ordinary shares, which resulted in the return of capital of an aggregate amount of $30 million.
• Total proceeds from realised investments, refinancing proceeds, other distributions and escrows of $14.3 million (FYE 28/02/25: $47.4 million).
• Post year end, the Company realised its interest in Factor Energia for €10.8 million (approximately $13.1 million).
• The US and European micro-cap portfolios were flat for the year, and the Company continues to work towards several realisations in both portfolios.
• The Company has two remaining properties with equity value: Esperante, an office building in West Palm Beach, Florida, and 247 Bedford Avenue, a retail building with Apple as the primary tenant, in Williamsburg, Brooklyn. The real estate portfolio was written up 4 cents per share during the period.

 

Investment Policy and Liquidity

• Since the Company adopted its current investment policy in August 2020, the Company has achieved realisations in excess of $540 million, repaid approximately $270 million of debt and returned $70 million of capital to shareholders.
• As at 11 June 2026, the Company is debt free and had approximately $94 million (28 February 2026: $86 million) of cash and treasuries and a reduced but still substantial investment portfolio of approximately $148 million (28 February 2026: $163 million).
• Future returns of capital depend on further realisations and the resolution of a possible capital contribution towards the refinancing of a portfolio investment. Only modest activity is expected in the near term, with most portfolio value likely to be realised towards the end of the wind-down period.
• In line with the Company's investment policy, certain assets within the portfolio may require significant further investment and time to maximise their value:
• The Company has reserved $20.5 million for Follow-on Flex Pack (through JZHL Secondary Fund LP), of which $12.3 million has been invested.
• The Company has reserved the following amounts for certain other existing assets: approximately $12.5 million for Esperante, of which $8.7 million has been invested ($3.8 million outstanding); $15 million for Spruceview; and $20 million for capital calls from JZI Fund III, L.P., including an anticipated requirement for further support.

 

David Macfarlane, Chairman of JZCP, said: ""The Company has made excellent progress since adopting its current investment policy in August 2020, with total realisations in excess of $540 million, the repayment of approximately $270 million of debt and, to date, the return of $70 million of capital to shareholders.

Notwithstanding recent market volatility relating to US trade policy and the conflict in the Middle East, which may delay the realisation of the Company's remaining portfolio, the Board and Investment Adviser remain focused on maximising the value of those investments, ensuring their orderly realisation at the appropriate time and returning capital to shareholders."

 

Market Abuse Regulation:

The information contained within this announcement is inside information as stipulated under MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. The person responsible for arranging the release of this announcement on behalf of the Company is David Macfarlane, Chairman.

 

For further information:

 

Kit Dunford               +44 (0)7717 417 038

FTI Consulting

 

David Zalaznick               +1 212 485 9410

Jordan/Zalaznick Advisers, Inc.

 

Samuel Walden               +44 (0) 1481 745385

Northern Trust International Fund

Administration Services (Guernsey) Limited

   

About JZ Capital Partners

 

JZCP has investments in US and European micro-cap companies, as well as real estate properties in the US.

 

JZCP's Investment Adviser is Jordan/Zalaznick Advisers, Inc. ("JZAI") which was founded by David Zalaznick and Jay Jordan in 1986. JZAI has investment professionals in New York, Chicago, London and Madrid.

 

In August 2020, the Company's shareholders approved changes to the Company's investment policy. Under the new policy, the Company will make no further investments except in respect of which it has existing obligations and to continue to selectively supporting the existing portfolio. The intention is to realise the maximum value of the Company's investments and, after repayment of all debt, to return capital to shareholders.

 

JZCP is a Guernsey domiciled closed-ended investment company authorised by the Guernsey Financial Services Commission. JZCP's shares trade on the London Stock Exchange.

 

For more information please visit www.jzcp.com.