Search Follow us

Is Private Equity (ISGSY)

Business description

Is Private Equity (ISGSY) is a listed private equity fund, which invests directly in Turkey's growing mid-cap private companies.

Stock data

Market cap.TRY126.9m
Last close1.70TRY
High / Low (52 weeks)2.3TRY / 1.5TRY
Stock market listingBIST
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

Other companies in sector Show

Aberdeen New Dawn Investment Trust Aberdeen New Thai Investment Trust
Aberdeen Private Equity Fund Aberdeen UK Tracker Trust
AcenciA Debt Strategies Acorn Income Fund
Adamas Finance Asia Alliance Trust
Altamir SCA Amphion Innovations
Aurelius Bailador Tech Investments
Bankers Investment Trust (The) BB Biotech
BioPharma Credit BlackRock Greater Europe Investment Trust
BlackRock Hedge Selector BlackRock Latin American Inv. Trust
British Portfolio Trust Brunner Investment Trust (The)
Canadian General Investments Carador Income Fund
CFP Sanford DeLand Free Spirit Fund. Charles Stanley
City Natural Resources Conversus Capital
CQS Rig Finance Fund CVC Credit Partners European Opps
Detour Gold Deutsche Beteiligungs
Dexion Commodities Diverse Income Trust (The)
DouglasBay Capital Dunedin Enterprise Investment Trust
DW Catalyst Fund Edinburgh Worldwide Investment Trust (The)
European Assets Trust European Investment Trust (The)
F&C Managed Portfolio Income F&C Managed Portfolio Trust
F&C US Smaller Companies Fidelity China Special Situations
Fidelity European Values Finsbury Growth & Income Trust
Foreign & Colonial Investment Trust Gartmore Growth Opportunities
Gartmore Irish Growth Fund Geiger Counter Limited
Genesis Emerging Markets Fund GLI Alternative Finance
Global Resources Investment Trust Golden Prospect Precious Metals
Gulf Investment Fund Hansa Trust (HAN)
HarbourVest Global Private Equity HarbourVest Senior Loans Europe
HBM Healthcare Investments Heliad Equity Partners
Henderson Alternative Strategies Trust Henderson Far East Income
Henderson Global Trust Henderson Global Trust
Henderson International Income Trust Heptagon
HSBC Infrastructure Company Infrastructure India
International Biotechnology Trust Invesco Asia Trust
Invesco Income Growth Trust JP Morgan Private Equity Limited
JPMorgan Brazil Investment Trust JPMorgan European Smaller Companies Trust
JPMorgan Global Convertibles Income Fund JPMorgan Global Growth & Income
JPMorgan Indian Investment Trust Jupiter Green Investment Trust
Jupiter UK Growth Investment Trust Jupiter US Smaller Companies
JZ Capital Partners Limited Lazard World Trust Fund
Leaf Clean Energy Company LMS Capital
Lowland Investment Company LPEQ
Martin Currie Asia Unconstrained Trust Martin Currie Global Portfolio Trust
Middlefield Canadian Income Miton Global Opportunities
Miton Income Opportunities Trust New City Energy
Ocean Wilsons Holdings Odyssean Investment Trust
Pacific Assets Trust Phaunos Timber Fund
Polar Capital Global Healthcare Trust Princess Private Equity Holding
PXP Vietnam Fund Rathbone Brothers
RENN Universal Growth Investment Trust Schroder AsiaPacific Fund
Schroder Global Real Estate Securities ScotGems
Scottish Oriental Smaller Companies Securities Trust of Scotland
Seneca Global Income & Growth Trust Sigma Capital Group
Standard Life Equity Income Trust Standard Life Investments Property Income Trust
Standard Life Private Equity Trust Standard Life UK Smaller Companies
Strategic Equity Capital Taiwan Fund (The)
Templeton Emerging Markets Investment Trust Tetragon Financial Group
The Biotech Growth Trust The Law Debenture Corporation
The Merchants Trust The North American Income Trust
The Scottish Investment Trust Tiso Blackstar Group
TR European Growth Trust UK Commercial Property REIT
Utilico Emerging Markets Vietnam Enterprise Investments
Vietnam Holding Asset Management Vietnam Infrastructure Fund
VinaCapital Vietnam Opportunity Fund VinaLand
Vision Opportunity China Fund WAM Active
WAM Capital WAM Research
Witan Investment Trust Witan Pacific Investment Trust
Worldwide Healthcare Trust YFM Equity Partners

Investment summary

In the year to 31 December 2014 Is private Equity's (ISGSY) NAV increased by 1% and it paid a dividend equivalent to 7.9% of the current share price. Financial income was largely offset by a small fair value decline in its private equity investments and general administrative expenses and the dividend payment. Its 40% discount to NAV is in line with its long-term average and gives investors some protection from the heightened uncertainty surrounding Turkey and investments in emerging markets. There were no disposals made in 2014 as local and geopolitical uncertainties combined to make such actions problematic. However, one significant new investment was made in Q414, as ISGSY has paid TRY17.5m for a 28.5% stake in Radore, which provides data centre services in Turkey.

Last updated on 29/06/2018

Industry outlook

The role that private equity firms like ISGSY can play in the development of Turkey remains considerable. However, progress on portfolio disposals is likely to suffer from market uncertainties. These include the rate at which interest rates in the US are increased, the political instability in its neighbours in Ukraine, Iraq and Syria, as well as local domestic economic and political uncertainties arising from the desire to lower inflation without suppressing economic growth.

Last updated on 29/06/2018

Key management

Serdar Gencer, Chairman
Murat Özgen, CEO
Banu Gul, FD

Company address

Kuleleri Kule:2
Kat:8 Levent
Istanbul
34330
Turkey
+90 0212 325 17 44
View website