Princess Private Equity Holding Ltd NAV increases by 7.3% in March (9511W)

TIDMPEY TIDMPEYS

RNS Number : 9511W

Princess Private Equity Holding Ltd

29 April 2021

News Release

Guernsey, 29 April 2021

NAV increases by 7.3% in March

-- Princess Private Equity Holding Limited's (Princess or the Company) net asset value increased by 7.3% to EUR 14.49 per share

   --    Portfolio developments (+8.3%) and currency movements (+0.1%) were positive 

-- Princess invested EUR 34.0 million during the month and received distributions of EUR 13.5 million

Princess invested a total of EUR 34.0 million during March, of which EUR 14.5 million was invested in Telepass, a leading European provider of electronic toll collection (ETC) services. Telepass provides services to approximately 7 million clients, with an asset base of more than 12 million active payment devices. The company processes around EUR 7 billion in annual transactions across 14 European countries. Telepass complements its core ETC services with other transport-related services, such as digital mobility payments and personal mobility insurance services. Partners Group will work closely with Telepass' management on a number of strategic value creation initiatives, with key areas of focus including the further penetration and consolidation of the European ETC market through organic and acquisitive growth, strengthening the company's "one-stop mobility payment" solution for B2C and B2B customers, and scaling mobility insurance coverage across Europe.

EUR 13.8 million was invested in Idera, a provider of infrastructure software solutions to businesses for testing, application development and database architecture and management, both on premises and in the cloud. Idera has 700,000 users globally across a wide range of industries, including technology, financial services, legal, pharmaceuticals, government and non-profit, energy and education. Partners Group will work closely with the company to further develop its pipeline of strategic M&A opportunities and optimize its sales and marketing processes.

EUR 5.6 million was invested in Ecom Express (Ecom), one of the largest providers of technology-enabled end-to-end logistics solutions to the fast-growing Indian e-commerce industry. Ecom's logistics network covers more than 95% of India's population, with the company delivering close to one million shipments daily through approximately 2,800 delivery centres. Following the transaction, Partners Group will work closely with Ecom in accelerating its core business growth, expanding its product offerings, and entering new segments and markets.

During the month Princess received distributions of EUR 13.5 million, of which EUR 9.7 million stemmed from Foncia, the leading French property management and real estate services provider, following a refinancing of the company's debt. The refinancing allowed the company to repay its existing indebtedness, raise additional funds for future acquisitions, and pay a dividend to shareholders. The remaining balance of EUR 3.8 million was received from Princess' mature legacy fund portfolio.

Princess will hold a quarterly investor update on 19 May 2021 at 10:00 BST / 11:00 CET. During the webcast, Partners Group, the Investment Manager to Princess, will give an update on the recent developments of the Princess portfolio based on unaudited figures as of 31 March 2021. Please find the registration details on the Company's webpage.

Further information is available in the monthly report, which can be accessed via: http://www.princess-privateequity.net/en/investor-relations/financial-reports/ .

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 managed in its investment activities by Partners Group, a global private markets investment management firm with USD 109 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.

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April 29, 2021 02:00 ET (06:00 GMT)