Princess Private Equity Holding Ltd NAV increases by 0.3% (8737P)

TIDMPEY

RNS Number : 8737P

Princess Private Equity Holding Ltd

23 November 2016

News Release

Guernsey, 23 November 2016

NAV increases by 0.3%

-- Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") increased by 0.3% to EUR 10.19 per share

   --    Currency movements (+0.4%) and overall portfolio developments (+0.1%) were positive 

-- Princess received distributions of EUR 6.6 million from exited investments and invested EUR 14.4 million over the reporting period

During October, Princess' portfolio generated distributions of EUR 6.6 million of which EUR 4.2 million stemmed from the realization of CPA Global, a provider of intellectual property (IP) and legal support services. The realization was triggered by a refinancing of the company's capital structure. Founded in 1969, the company offers corporate solutions, IP management software and services related to patents, trademarks and general legal support. Partners Group invested in the senior debt of CPA Global in 2012, in support of the acquisition of the company by equity sponsor Cinven. During Partners Group's investment period, the company grew its footprint across Europe, North America and Asia Pacific by successfully acquiring and integrating several complementary businesses. The remaining distributions of EUR 2.4 million came mainly from Princess' mature legacy fund portfolio.

Princess invested a total of EUR 14.4 million, of which EUR 13.8 million was allocated to Systems Maintenance Services (SMS), a global IT support services provider. Founded in 1981, the US-based company provides IT infrastructure services to over 3'000 businesses, through more than 100 service centers globally. SMS is a market leader and stands out among its main competitors in four key areas: OEM (Original Equipment Manufacturer) capabilities to handle complexity; quality operational infrastructure and high level of service provided; OEM cost savings programs; and multi-service offerings. Going forward Partners Group will work closely with the management team to optimize SMS' sales expansion efforts through streamlining and standardization of the recruitment processes. Partners Group will also support SMS in implementing best practices across the entire company, and in the enlistment of more structured sales coaching, which is necessary for selling to larger customer accounts. In addition, SMS will be able to leverage Partners Group's extensive network of portfolio companies and investment partner relationships to introduce potential enterprise customers.

Post-month end, the Board approved a second EUR 40 million commitment to Partners Group Direct Equity 2016 program, following an initial commitment of EUR 40 million made in December 2015. The program was formed to make direct investments in a globally diversified private equity portfolio, with a principal focus on small- and mid-cap buyout transactions.

Further information is available in the monthly report which can be accessed via: http://www.princess-privateequity.net/financialreports.

Ends.

About Princess

Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests, inter alia, in private equity and private debt investments. Princess is advised in its investment activities by Partners Group, a global private markets investment management firm with over EUR 49 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net.

Contacts

Princess Private Equity Holding Limited:

[e-mail]

www.princess-privateequity.net

Registered Number: 35241

Investor relations contact

George Crowe

Phone: [phone]

Email: [e-mail]

Media relations contact

Jenny Blinch

Phone: [phone]

Email: [e-mail]

www.partnersgroup.com

This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about, and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein are not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.

This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of Princess' website nor the contents of any website accessible from hyperlinks on Princess' website (or any other website) is incorporated into, or forms part of, this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 23, 2016 02:00 ET (07:00 GMT)