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Key Points
- Reinet’s net asset value rises 5.14%, driven by disciplined investment strategies and robust portfolio management.
- The fund’s per-share value climbed 5.15% to €40.46($42.25) underpinned by stable holdings in insurance and diversified assets.
- Reinet sold its BAT stake for €1.45 billion($1.51 billion), bolstering liquidity and positioning for new investment opportunities.
Reinet Investments, a Luxembourg-based international investment firm controlled by South Africa’s richest man, Johann Rupert, reported a significant increase in its net asset value (NAV) for the fiscal year ending Dec. 31, 2024.
The NAV grew to €6.93 billion ($7.2 billion), up by €339 million ($354 million) from €6.59 billion ($6.88 billion) on Sept. 30, 2024. This growth reflects the firm’s impressive investment returns and prudent asset management.
Reinet NAV up 5.15% in 2024
According to its recent statement, the increase in NAV reflects Reinet’s disciplined investment approach and long-term value creation strategy. A key driver of this growth is the Reinet Fund S.C.A., F.I.S., a wholly-owned subsidiary. Its portfolio includes stakes in Pension Insurance Corporation Group Limited, British American Tobacco (BAT), and other diversified assets.
During the period, the NAV per share grew by 5.15 percent from €38.48 ($40.18) to €40.46 ($42.25), reflecting steady progress. Earlier this month, Reinet sold its remaining shares in BAT for €1.45 billion ($1.51 billion), below its year-end fair value of €1.51 billion ($1.57 billion). The proceeds are expected to enhance liquidity and position Reinet for new investment prospects.
Reinet’s management remains focused on optimizing its portfolio and delivering value to shareholders. The firm’s stake in Pension Insurance Corporation continues to provide stable income, while its diverse investments offer a cushion against market fluctuations. The increase in NAV underscores Reinet’s ability to adapt to market changes and identify opportunities for sustained growth.
Johann Rupert’s $1.23 billion Reinet stake
Under Johann Rupert’s leadership, Reinet, formed after a demerger from Richemont in 2008, has consistently demonstrated sound financial management and strategic diversification, particularly in insurance and private equity.
Rupert, who owns 24.9 percent of Reinet, has a fortune of $15.6 billion, primarily from his stake in Richemont—a luxury conglomerate known for brands like Cartier, Van Cleef & Arpels, and Chloé. His stake in Reinet is valued at $1.23 billion.
As Reinet prepares to release its consolidated financials, the firm is well-positioned for continued growth, leveraging its €6.93 billion ($7.2 billion) NAV to explore global opportunities and strengthen its position as a key player in the investment world.
