Princess Private Equity Holding Ltd NAV increases by 3.0% in March (2120X)

TIDMPEY TIDMPEYS

RNS Number : 2120X

Princess Private Equity Holding Ltd

26 April 2019

News Release

Guernsey, 26 April 2019

NAV increases by 3.0% in March

-- Princess Private Equity Holding Limited's (Princess) net asset value increased by 3.0% to EUR 11.51 per share

   --    Portfolio developments (+3.1%) and currency movements (+0.1%) were positive 
   --   Princess received distributions of EUR 11.8 million and invested 9.8 million during the month 

Princess received distributions of EUR 11.8 million during the month, of which 6.0 million stemmed from the mature legacy fund portfolio. Princess also received EUR 3.2 million of proceeds from a partial divestment of shares in Ceridian HCM, a global human capital management software provider, following Ceridian's listing on the New York Stock Exchange in April 2018.

Princess invested a total of EUR 9.8 million during the month, of which EUR 8.0 million was invested in an add-on investment in Permotio International Learning, an investment vehicle formed to create a leading international schools group through a 'buy and build' strategy. The group has a healthy pipeline of acquisitions and is in exclusivity over six transactions. In January 2019, Permotio acquired Colegio Pedro de Valdivia, a Chile-based school group that educates approximately 6'250 students, and Montessori Academy of Broward, a US-based school of over 650 students. With these two additions, Permotio has built a group educating over 30'000 children in 39 schools across Europe, Central America, the US, the Middle East and Asia. The group was one of the top contributors to Princess' NAV performance during the reporting period. EBITDA for the twelve months ended 31 January 2019 increased by 70.5% to EUR 46.9 million, supported by M&A activity, as well as like-for-like growth from higher student enrolments and fee increases.

A number of other investments had a positive impact on NAV performance in March, including Foncia and CPA Global. Foncia, a France-based provider of property management and real estate services, continued to deliver solid financial results. EBITDA increased by 17% to EUR 191m, mainly as a result of Foncia's acquisition strategy and a robust performance across all service lines. Going forward Partners Group remains focused on working closely with Foncia's management team to implement a new IT system and aims to digitalize all business functions over the next three years.

CPA Global, a Jersey-based legal outsourcing company providing intellectual property management services, was written-up in value following the company's recent merger announcement with ipan/Delegate Group in January 2019. The combined company will be able to offer customers an expanded range of solutions across a broader geographical footprint, which will help drive CPA's global growth strategy. The merger is also expected to realize cost synergies and further value creation potential.

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.

END

STRIFMATMBBTMFL

(END) Dow Jones Newswires

April 26, 2019 02:01 ET (06:01 GMT)