Princess Private Equity Holding Ltd Publication of November NAV (1417A)

TIDMPEY TIDMPEYS

RNS Number : 1417A

Princess Private Equity Holding Ltd

22 December 2017

News Release

Guernsey, 22 December 2017

Princess publishes November NAV

-- Princess Private Equity Holding Limited's ("Princess") net asset value decreased by 0.5% to EUR 10.62 per share, net of the interim dividend of EUR 0.28 per share

   --    Portfolio developments were flat (0.0%) and currency movements (-0.3%) were negative 

-- Princess received distributions of EUR 21.0 million and invested EUR 26.8 million over the reporting period

Princess received distributions of EUR 21.0 million during the month, including EUR 11.9 million of proceeds from the previously announced placing of shares in VAT Group AG ("VAT") in October. Princess also received a dividend of EUR 3.8 million from MultiPlan, a US-based provider of transaction-based cost management solutions to healthcare operators, which has continued to perform well, driven by increased transaction volume in its analytics-based solutions and payment integrity solutions business segments. Since Princess invested in the business in June 2016, MultiPlan has made five distributions, which in aggregate represent over 0.5x invested capital. The remaining distributions of EUR 5.3 million came predominantly from Princess' mature legacy fund portfolio.

Princess invested a total of EUR 26.8 million during the month, of which EUR 14.7 million was allocated to Partners Group's investment in United States Infrastructure Corporation ("USIC"), a leading provider of underground utility locating services, on behalf of its clients. The company performs its services under long-term customer contracts, which provide stability and visibility into future cash flows. Partners Group will work closely with the management team on value creation initiatives to enhance operations through investments in technology and data management, expanding service offerings in adjacent markets, as well as growing the company both organically and through select acquisitions. Princess also invested EUR 10.3 million in CPA Global ("CPA") as part of a consortium led by Leonard Green Partners. CPA is a leading provider of a broad range of software and services across the intellectual property ("IP") life cycle. Partners Group has been an existing debt investor in CPA since 2013 and has had significant experience working with other companies with similar dynamics in prior investments, providing additional insight into the deal. CPA is considered an attractive investment given its leading position in a growing market. Over the past five years, CPA has maintained a strong financial track record and has achieved double-digit organic EBITDA growth, driven by consistent increases in the total global stock of patents.

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 57 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 company news service from the London Stock Exchange

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December 22, 2017 02:00 ET (07:00 GMT)