|
|
|
|
|
|
2006 |
2005 |
| |
|
US$m |
US$m |
|
|
|
|
| 12. |
PRIVATE EQUITY INVESTMENTS |
|
|
|
Proprietary investments at fair value |
|
|
|
Listed |
18,1 |
10,7 |
| |
Unlisted |
30,2 |
27,9 |
|
Total proprietary investments at fair value |
48,3 |
38,6 |
| |
Private equity funds investments |
65,0 |
41,9 |
| |
|
113,3 |
80,5 |
| |
Carrying values of proprietary investments, per sector: |
|
|
|
Entertainment, leisure, tourism |
1,2 |
1,2 |
|
Information technology |
16,7 |
9,9 |
|
Manufacturing |
6,6 |
3,3 |
|
Services |
11,3 |
11,5 |
|
Other |
12,5 |
12,7 |
| |
Total private equity proprietary investments |
48,3 |
38,6 |
|
|
|
|
| 12.1 |
Assumptions applied in estimating fair value of private equity investments |
|
|
| |
The fair values of unlisted private equity investments are primarily based on earnings multiple models. |
|
|
|
|
|
|
| 12.2 |
Unlisted investments comprise the following: |
|
|
|
Shareholding of 5% and less |
|
|
|
UFP Investments (Proprietary) Limited |
|
|
|
Wilderness Safaris Limited |
|
|
|
Shareholding in the > 5% to 25% range |
|
|
|
Raceclubs Holdings Limited |
|
|
|
Equine Global Holdings N.V. |
|
|
|
Pangea Diamond Fields Limited |
|
|
|
Shareholding in the > 25% to 50% range |
|
|
|
DGB (Proprietary) Limited |
|
|
|
Candy Tops (Proprietary) Limited |
|
|
|
Beverage Packaging (Proprietary) Limited |
|
|
|
Isegen South Africa (Proprietary) Limited |
|
|
| |
Pangea Exploration (Proprietary) Limited |
|
|
|
|
|
|
| 13. |
SPECIALISED FUNDS INVESTMENTS |
|
|
|
Unlisted specialised funds |
|
|
|
Brait Absolute South Africa Fund |
15,8 |
10,9 |
|
Brait US Opportunity Fund |
– |
3,9 |
| |
Emerging Managers Funds |
2,2 |
5,1 |
| |
Total fair value using the underlying market value |
18,0 |
19,9 |
|
|
|
|
|
