CD Private Equity Fund II NTA Falls to $0.55 Per Unit as at 31 October 2026

Anjali Anand

13 November 2026 03:23 PM AEDT

CD Private Equity Fund II NTA Falls to $0.55 Per Unit as at 31 October 2026

Image Source: Krish Capital Pty Ltd

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CD Private Equity Fund II (ASX:CD2) disclosed an estimated unaudited net tangible asset value after tax of $0.55 per unit as at 31 October 2026, compared with $0.66 per unit as at 30 September 2026, according to the fund's monthly NTA update released on 13 November 2026.

Key Points

Estimated unaudited NTA after tax was $0.55 per unit as at 31 October 2026, down from $0.66 per unit at 30 September 2026
One-month NTA return was -16.7%; one-year return was -19.8%; since inception annualised return was 6.7%
Gross assets stood at $30.6 million; distributions since inception total $3.06 per unit
First tranche of a Purchase and Sale Agreement for four underlying fund interests completed in early November 2026, with the LP receiving approximately US$3.5 million after taxes withheld at sale
Second tranche of the transaction is expected to complete in early January 2027

October 2026 NTA Movement and Performance Summary

The filing states that the reduction in NTA during the month was primarily driven by a previously announced adjustment to four underlying fund valuations following a portfolio realisation update in October, together with foreign exchange losses resulting from the strengthening Australian dollar. The AUD:USD spot rate used in the calculation was 0.7030 as at 31 October 2026. The estimated unaudited NTA before tax at 31 October 2026 was $0.58 per unit, compared with $0.69 per unit at 30 September 2026. The fund's five-year annualised NTA return was -1.5% and its three-year annualised return was -10.9%. Since inception in April 2013, CD2 has delivered an annualised IRR of 10.1%.

Purchase and Sale Agreement for Four Underlying Fund Interests

During October, the fund announced the execution of a Purchase and Sale Agreement for four underlying fund interests. The first tranche of the transaction completed in early November 2026. According to the filing, the transaction was completed below the carrying value of the underlying assets, and the Manager determined that accelerating liquidity for investors was preferable to a potentially extended realisation timeframe. Following completion of the first tranche, the LP received proceeds of approximately US$3.5 million after taxes were withheld at sale. The second tranche is expected to complete in early January 2027.

Monthly LP Distributions and Capital Activity

During October 2026, the LP received net proceeds of approximately US$0.11 million, reflecting a distribution partially offset by a minor capital call and primarily relating to an earlier realisation. The filing states that proceeds from the Purchase and Sale Agreement are expected to be distributed to the fund once LP2 has satisfied its remaining tax and operating requirements. Distributions over the last 12 months totalled $0.41 per unit, with cumulative distributions since inception amounting to $3.06 per unit. The update was authorised for release by K2 Asset Management Ltd as responsible entity of the fund.

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