CD Private Equity Fund I Reports NTA of $0.54 Per Unit at 31 October 2026

Sonal Goyal

13 November 2026 03:21 PM AEDT

CD Private Equity Fund I Reports NTA of $0.54 Per Unit at 31 October 2026

Image Source: Krish Capital Pty Ltd

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CD Private Equity Fund I (ASX:CD1) has disclosed an estimated unaudited net tangible asset value after tax of $0.54 per unit as at 31 October 2026, compared with $0.61 per unit as at 30 September 2026, according to a filing released on 13 November 2026.

Key Points

Estimated unaudited NTA after tax of $0.54 per unit at 31 October 2026, down from $0.61 per unit at 30 September 2026
Estimated unaudited NTA before tax of $0.56 per unit at 31 October 2026, compared with $0.63 per unit at 30 September 2026
Gross assets of $20.7 million; distributions of $0.09 per unit over the last 12 months and $3.125 per unit since inception
A Purchase and Sale Agreement for one underlying fund interest was completed, with the LP receiving proceeds of approximately US$3.2 million in early November
Since inception, the fund has delivered an annualised IRR of 11.0%; the five-year NTA return was -3.2% per annum

NTA Movement and Return Performance at 31 October 2026

The fund's estimated unaudited NTA after tax stood at $0.54 per unit as at 31 October 2026, with the before-tax NTA recorded at $0.56 per unit for the same date. The filing disclosed NTA returns of -11.5% for the one-month period, -0.6% over six months, -19.5% over one year, -9.3% per annum over three years, -3.2% per annum over five years, and 7.7% per annum since inception. The fund was established in August 2012. Total returns are inclusive of distributions and based on the fund's post-tax NTA, which incorporates an estimate of likely US tax the fund will incur upon realisation of recorded fair value movements. The AUD:USD spot rate used was 0.7030 as at 31 October 2026.

Factors Driving the Monthly NTA Reduction

According to the filing, the reduction in NTA during the month of October 2026 was primarily driven by two factors: a previously announced adjustment to an underlying fund's valuation following a portfolio realisation update in October, and foreign exchange losses resulting from the strengthening Australian dollar. The filing notes that total returns are inclusive of distributions. The responsible entity of the fund is K2 Asset Management Ltd (ACN 085 445 094, AFSL 244 393). Numbers in the filing may not sum due to rounding, and all historical performance figures are sourced from E&P Investments Limited for data before 24 June 2023 and K2 Asset Management Ltd for data post that date.

Underlying Fund Interest Sale and Proceeds

During October 2026, the fund announced the execution of a Purchase and Sale Agreement for one underlying fund interest. The filing states the transaction was completed below the carrying value of the underlying assets. The filing further states that the manager determined accelerating liquidity for investors was preferable to a potentially extended realisation timeframe. Following completion of the transaction in early November, the LP received proceeds of approximately US$3.2 million. The proceeds are expected to be distributed to the fund once the LP has satisfied its remaining tax and operating requirements. No distributions or capital calls were received by the LP during the month of October 2026.

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