NAV increases by 2.0% in May

Princess Private Equity Holding Ltd

04 July 2023

 

(LSE: PEYS/PEY)

Princess Private Equity Holding Limited

NAV increases by 2.0% in May

·    Net asset value increased by 2.0% to EUR 14.77 per share, total NAV at EUR 1'021.06 million

·    Portfolio revaluations (+0.8%) and currency movements (+1.7%) were positive

·    Princess received distributions of EUR 4.1 million

In May, Princess' NAV increased by 2.0%. The positive performance was mainly driven by positive foreign exchange movements as the Euro depreciated in May against the US dollar. A number of portfolio companies also materially contributed, with KinderCare being the most notable. KinderCare is the largest for-profit provider of early childhood education and care services in the US, which has seen double-digit growth in revenue and EBITDA, mainly attributable to strong enrolment rates. Techem, a global sub-metering services provider, was also a large contributor, whose valuation increased on the back of robust financial performance supported by regulatory tailwinds and long-term contracts with customers. The third largest contributor to positive revaluations was Civica, a UK-based critical software solutions provider to the public sector. The company continued its strong growth since inception with a solid revenue and EBITDA performance recorded over the last 12-month period. This was primarily driven by strong organic developments in Civica's core software business.

During the month Princess received distributions of EUR 4.1 million, including proceeds from the sale of its remaining stake in Movate (formerly CSS Corp), a technology-focused business process outsourcing provider. EUR 1.7 million was received from Princess' mature legacy fund portfolio and private debt investments.

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 135 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

Investor relations contact: Sarah Page Phone: [phone] E-mail: [e-mail]

Media relations contact: Jenny Blinch Phone: [phone] E-mail: [e-mail]

Registered Number: 35241   LEI: 54930038LU8RDPFFVJ57

Notes:

1.     Note that references in this announcement to Princess Private Equity Holding Limited have been abbreviated to "Princess" or "Company". References to Partners Group AG have been abbreviated to "Partners Group " or "Investment Manager".

2.     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 Private Equity Holdings. 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 is not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.

3.     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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