Princess Private Equity Holding Ltd Princess publishes December NAV (1797O)

TIDMPEY TIDMPEYS

RNS Number : 1797O

Princess Private Equity Holding Ltd

28 January 2019

News Release

Guernsey, 28 January 2019

Princess publishes December NAV

-- Princess Private Equity Holding Limited's (Princess) net asset value decreased by 1.6% to EUR 10.90 per share

   --    Portfolio developments (-1.3%) were negative as well as currency movements (-0.2%) 

-- Princess received distributions of EUR 19.7 million and invested EUR 5.0 million over the month

Princess received distributions of EUR 19.7 million during the month, including proceeds of EUR 3.8 million from a shareholder loan repayment from Vermaat, a leading Dutch outsourced hospitality and premium catering services provider. The proceeds allow Partners Group to partially de-risk its investment in Vermaat and return a substantial portion of cost to investors. The proceeds stemmed from a refinancing of the 2015 acquisition debt for Vermaat. The refinancing lowers the company's total annual interest expenses, while increasing the size of the company's revolving capital facility to cover working capital and to fund potential acquisitions. Since Partners Group's acquisition in December 2015, Vermaat has performed above initial expectations, with revenue and EBITDA above the base-case. EUR 2.9 million was received from Princess' mature legacy fund portfolio. Princess also received EUR 11.2 million from the sale of first lien loans.

Princess invested a total of EUR 5.0 million during the month, of which EUR 4.0 million was provided as additional capital to Permotio International Learning, an investment vehicle formed to create a leading international schools group through a 'buy and build' strategy. The capital will be used to fund future acquisition opportunities. The group is currently in exclusivity over two transactions and has a healthy pipeline of acquisitions. Permotio recently acquired US-based Baton Rouge International School in October 2018, adding 475 students to the group's portfolio. As of November 2018, Permotio had built a of portfolio of 33 schools in 7 countries, educating over 27'000 students. In addition to growth from acquisitions, Permotio also achieved like-for-like revenue growth from increases in fees and student enrolments.

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 73 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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January 28, 2019 02:00 ET (07:00 GMT)