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)

INTERIM RESULTS FOR THE PERIOD ENDED 31 AUGUST 2025
 

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").

6 November 2025

JZ Capital Partners, the London listed fund that has investments in US and European micro-cap companies and US real estate, announces its interim results for the period ended 31 August 2025.

JZCP has today released its Interim Report and Financial Statements for the period ended 31 August 2025. The Report will shortly be available for inspection via the Company's website www.jzcp.com.

The document will shortly be available for inspection on the National Storage Mechanism website: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Financial and Operational Highlights

• NAV per share of $4.04 (FYE 28/02/25: $4.06)
• NAV of $243.7 million (FYE 28/02/25: $274.6 million)
• Total proceeds from realised investments and escrow receipts of $2.3 million (FYE 28/02/25: $47.4 million)
• The US and European micro-cap portfolios were down a combined 6 cents per share for the six-month period. The Company continues to work towards further 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.

Investment Policy and Liquidity

• Since the Company adopted its current investment policy in August 2020, the Company has achieved realisations in excess of $500 million, repaid approximately $270 million of debt and returned $70 million of capital to shareholders.
• Future returns of capital depend on further realisations, with only modest activity expected in the near term and most portfolio value likely to be realised towards the end of the wind-down period.
• As at 31 August 2025, the Company is debt free and had approximately $77 million of cash and treasuries and a reduced but still substantial investment portfolio of approximately $166 million.
• In line with the Company’s investment policy, certain assets within the portfolio will 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 $9 million has been invested; $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 remains in a strong financial position, having returned approximately $70 million to shareholders to date. The Board and Investment Adviser remain focused on executing the Company’s investment policy, maximising the value of remaining investments, ensuring their orderly realisation, 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 745228
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 is supported by teams of 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 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, having repaid of all debt (completed December 2023), 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.