Princess Private Equity Holding Ltd NAV increases by 0.2% in August (9234B)

TIDMPEY TIDMPEYS

RNS Number : 9234B

Princess Private Equity Holding Ltd

26 September 2018

News Release

Guernsey, 26 September 2018

NAV increases by 0.2%

-- Princess Private Equity Holding Limited's (Princess) net asset value increased by 0.2% to EUR 11.21 per share

   --    Portfolio developments (0.4%) were positive and currency movements  slightly negative 

-- Princess received distributions of EUR 8.5 million and invested EUR 2.1 million over the month

The direct investment Universal Hospital Services (UHS), a leading US-based provider of healthcare technology management and services solutions, was the largest contributor to NAV growth during August. UHS signed a definitive agreement to merge with NASDAQ-listed Federal Street Acquisition Corp. (FSAC), a special purpose acquisition company sponsored by Boston-based private equity group Thomas H. Lee Partners. The transaction value represents an uplift for Princess of EUR 2.1 million (34%) over the carrying value as of 31 July 2018. The combined entity will operate under the name Agiliti Inc. and will apply to list its stock on the NASDAQ exchange. Existing shareholders will receive Agiliti shares and cash proceeds from this merger. Completion of the transaction is expected to occur in the fourth quarter of 2018 and is subject to regulatory approvals as well as FSAC shareholder approval.

Princess received distributions of EUR 8.5 million, predominantly from Princess' mature legacy fund portfolio, and invested EUR 2.1 million during the month.

At portfolio level, KinderCare Education, the largest private early education provider in the US, closed the acquisition of Rainbow Child Care Center, the eighth largest childcare provider in the US with 150 centers across 16 states. The acquisition will expand KinderCare's national presence in the US, providing childcare services to more than 185'000 children in 40 states. The acquisition is expected to generate significant synergies and economies of scale. Rainbow is considered an attractive investment due to its compelling track record in opening new centers. Rainbow has standardized its process related to market research, site selection and build-out capabilities, allowing the company to construct and open new centers in a short timeline. As a result, the acquisition is expected to accelerate KinderCare's expansion activities by leveraging Rainbow's expertise.

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 67.1 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 Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).

Contacts

Princess Private Equity Holding Limited:

[e-mail]

www.princess-privateequity.net

Registered Number: 35241

LEI: 54930038LU8RDPFFVJ57

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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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September 26, 2018 02:00 ET (06:00 GMT)