Princess Private Equity Holding Ltd NAV increases by 1.6% (0683M)

TIDMPEY

RNS Number : 0683M

Princess Private Equity Holding Ltd

26 July 2017

News Release

Guernsey, 26 July 2017

NAV increases by 1.6%

-- Princess Private Equity Holding Limited's ("Princess") net asset value increased by 1.6% to EUR 10.77 per share

-- Currency movements (-0.2%) were negative and overall portfolio developments (+2.1%) were positive

-- Princess received distributions of EUR 5.0 million and invested EUR 5.8 million over the reporting period

In June, Princess' NAV benefited from the quarterly revaluation of its direct investment portfolio. The portfolio companies Permotio International Learning ("Permotio"), Dynacast and KinderCare Education were among the largest value drivers. Permotio continued to execute its business plan to create a leading international private schools group through a "buy and build" strategy, achieving significantly higher revenue and EBITDA compared to the previous year. Dynacast, a global manufacturer of customized and highly engineered metal components, reported increased EBITDA and revenues figures following its acquisition of Signicast in March 2017. In particular, Dynacast's operations in Asia and Europe performed well, driven by strong demand across multiple industries. KinderCare Education reported higher student occupancy rates during the quarter. Partners Group continues to work closely with KinderCare Education on a number of strategic initiatives, including an analysis of demographic trends to identify potential sites for new center openings.

Princess received distributions of EUR 5.0 million during the month, including a total of EUR 0.9 million from the partial sale of shares in Black Knight Financial Services (BKFS), a provider of integrated technology, services, data and analytics to lenders and servicers in the mortgage industry. In December 2013, Princess invested in the merger of two companies, Lender Processing Services and ServiceLink, to create BKFS. The company was subsequently restructured in June 2014 into two operating subsidiaries, ServiceLink, which remained private and BKFS which was listed on the New York Stock Exchange. The remaining distributions of EUR 4.1 million came predominantly from Princess' mature legacy fund portfolio.

Princess invested a total of EUR 5.8 million during the month. Princess provided EUR 0.9 million of follow-on equity to Partners Group Pacific Restaurant Holdings as part of a wider financing round to support, among others, the company's acquisition of Consolidated Wings, a group of 17 Buffalo Wild Wings (BWW) restaurants in Indiana. The addition of Consolidated Wings will create the largest BWW franchise in the US. For the last twelve months ended 30 April 2017, Partners Group Pacific Restaurant Holdings reported growth in revenue and adjusted EBITDA of 21.1% and 22.4% respectively. Princess provided a total of EUR 4.2 million debt financing to a European security company in support of a private equity sponsor's acquisition of the company. European Security Company operates within the identity and security industry, and its solutions allow end-users to connect, authenticate and make payment.

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 EUR 58 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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July 26, 2017 02:00 ET (06:00 GMT)