Private Equity Holding, the listed Swiss private equity fund, is the latest private equity fund to suffer repercussions from its technology investments, reporting a Sfr506m (€342m) fall in the net asset value of its portfolio for the first half of the year.

The loss in net asset value for the six months ending September 30, 2001 was due to a Sfr438m depreciation on PEH's venture capital investments, and a Sfr36m fall in net asset value of direct investments.