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CT Private Equity Trust Plc on Monday said it sold a portion of its investment in Italian funeral services business of San Siro and related entities, namely HOFI SpA, for €39.5 million.
The sale represents an uplift from a €13.2 million valuation on June 30, the Edinburgh, Scotland-based investment trust for private equity assets said. CT noted that the investment has generated an 87% internal rate of return for the company as of November 10, 2022.
CT will invest €10.0 million of the proceeds into a new investment in HOFI Spa alongside the existing manager, Augens Capital SRL and the new investor for a further term.
Shares in CT Private were up 2.5% at 429.00 pence on Monday afternoon in London.
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