Private Equity Holdings

Portfolio management is delegated to Alpha Associates, the Zurich-based independent private equity manager that is also the firm's largest shareholder with a stake exceeding 33.3 percent. Alpha Associates' founding partner Dr. Petra Salesny sits on the board, creating direct governance overlap between the investment engine and the listed entity. Fidelis Götz serves as Chairman of the Board, while founder Dr. Hans Baumgartner operates as Chairman and Delegate of the Board with a stake above five percent.

Alpha Associates is both the external portfolio manager and the company's controlling shareholder. The relationship dates to the firm's structure, embedding investment execution inside a manager that oversees more than CHF 14 billion in total commitments across institutional mandates. Board representation from Alpha Associates' founding partner Dr. Petra Salesny directly links the investment function to corporate governance, creating a permanent alignment mechanism that distinguishes this listed fund-of-funds from purely arms-length delegation models.

The firm deploys across three channels: primary commitments to private equity funds, secondary purchases of existing fund interests, and direct co-investments alongside underlying managers. This blended approach, executed by Alpha Associates, allows the portfolio to adjust vintage-year exposure, manage the J-curve effect, and capture deal-level economics that pure fund-of-funds structures miss. Venture exposure spans seed through late-stage, while buyout and growth strategies cover multiple geographies.

Zug serves as Switzerland's most prominent corporate domicile for investment holding companies due to its cantonal tax framework, regulatory environment, and proximity to Zurich's financial center. For Private Equity Holdings, the Zug registration places the listed vehicle in a jurisdiction well-tested for holding-company structures, while the operational investment function sits with Alpha Associates in Zurich. The treasury-share position recorded in Switzerland provides capital-management flexibility common among Swiss-listed investment companies.

Founder Dr. Hans Baumgartner holds more than five percent of the company and serves as Chairman and Delegate of the Board, alongside his role as Senior Partner at law firm Baumgartner Mächler. Martin Eberhard, co-founder of NZB Neue Zürcher Bank, holds more than three percent and also serves on the board of Satellite Office's Swiss holding entity. Alpha Associates founding partner Dr. Petra Salesny completes the board, institutionalizing the manager relationship. Chairman Fidelis Götz leads the governance structure.