JZ Capital Partners' net asset value per share fell to $9.88 in the six months to the end of August - down from $10.12 at the end of February.

The group reported total investments of $56.3m, including: Felix Storch, Jordan Health Products, Peaceable Street Capital and properties in Brooklyn, New York and South Florida and realisation proceeds of $27.7m, primarily through the sale of Fidor Bank and the recapitalisation of Jordan Health Products.

Founder and investment adviser David Zalaznick said: 'It has been a steady six months for the company.

'While the underlying assets in our US, European and real estate portfolios continued to perform well, the overall NAV was impacted by pre-development real estate costs at the US real estate portfolio.

'However, we remain positive about our future prospects and have made a promising start to the second half of the year, with three significant realisations, all at or above NAV.

'Looking forward, the Company remains focused on returning further value from the portfolio and investing opportunistically in high-quality assets in the US and Europe.'