Princess Private Equity Holding Ltd Stable performance in July (0734I)

TIDMPEY

RNS Number : 0734I

Princess Private Equity Holding Ltd

25 August 2016

News Release

Guernsey, 25 August 2016

Stable performance in July

-- Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") stands at EUR 9.78 per share

-- Overall portfolio developments (+0.3%) were positive while currency movements (-0.1%) were slightly negative

-- Princess received distributions of EUR 5.0 million from exited investments and invested EUR 13.2 million

Distributions during the month came predominantly from Princess' legacy third party fund portfolio (EUR 2.5 million). Princess also received proceeds of EUR 1.3 million following the realization of US-based semiconductor manufacturer Freescale Semiconductor. Partners Group first invested in Freescale as part of a consortium in 2006, but the company experienced a significant decline in orders during the financial crisis which required it to reduce its cost base. Freescale subsequently held its IPO in 2011, raising the necessary capital to restructure its debt and held a secondary offering in 2014. The company was acquired by Dutch competitor NXP Semiconductors in a cash-and-stock transaction in December 2015, which valued the combined enterprise at over USD 40 billion. Princess received the cash proceeds from the transaction in April this year and subsequently sold the stock component in July.

Princess invested a total of EUR 13.2 million during the month, of which EUR 11.6 million was allocated to PCI Pharma Services (PCI). Partners Group acquired the global pharmaceutical services provider from selling private equity firm Frazier Healthcare Partners. Headquartered in Philadelphia, USA, PCI offers outsourced services across the entire pharmaceutical supply chain, including drug development and manufacturing, clinical trials and packaging services. The company has a diverse customer base of more than 350 companies, including the world's leading pharmaceutical manufacturers. PCI employs more than 2'800 people across the US and Europe, and generated sales of over USD 475 million in 2015. Following the acquisition, Partners Group plans to work closely with PCI's management team to add more specialized offerings to the product range and expand the company, both organically and through complementary add-on acquisitions.

On 18 August Princess held a conference call to update investors on the company's performance and the development of its portfolio during the second quarter of 2016. The presentation and replay facility are now available on the company's website:

http://princess-privateequity.net/en/investor_relations/web_cast_live-events.php.

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

Partners Group

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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August 25, 2016 02:01 ET (06:01 GMT)