Princess Private Equity Holding Ltd NAV increases by 2.1% (7487K)
September 26 2016 - 2:00AM
UK Regulatory
TIDMPEY
RNS Number : 7487K
Princess Private Equity Holding Ltd
26 September 2016
News Release
Guernsey, 26 September 2016
NAV increases by 2.1%
-- Princess Private Equity Holding Limited's ("Princess") net
asset value ("NAV") increases by 2.1% to EUR 9.99 per share
-- Overall portfolio developments (+2.3%) were positive while currency movements were neutral
-- Princess received distributions of EUR 13.4 million from
exited investments and invested EUR 3.6 million
Portfolio companies VAT Group AG and Action were the two largest
value drivers. Following its IPO in April 2016 at CHF 45.00 per
share, VAT Group AG's share price continued to develop positively,
closing the month at CHF 74.70 per share (+15.3% for August).
Princess received proceeds of EUR 5.3 million following the
repayment of Partners Group's mezzanine debt financing to Essmann,
a manufacturer of light domes, continuous roof lights, smoke and
heat extractors as well as ventilation equipment. Founded in 1948
and based in Germany, the company employs approximately 900 people
and also offers engineering consulting, maintenance and repair
services to its clients. Since Partners Group invested in the
company in May 2007, the investment has returned a multiple of
2.37x cost. The remaining proceeds of EUR 8.1 million came
predominantly from the legacy third party fund portfolio.
Princess invested a total of EUR 3.6 million during the month,
of which EUR 3.5 million was allocated to Polyconcept, a global
supplier of promotional products. The company's key markets are
North America and Europe where it provides a wide range of custom
decorated goods such as drink-ware, electronics, stationery and
premium apparel. Founded in 1973, Polyconcept has established a
leading market position within the highly fragmented promotional
products market. The company's revenues are well-diversified across
customers, suppliers, price points and geographies. Looking ahead,
the management team will continue to expand the business globally,
building on their track record of success and tapping into new
opportunities for growth.
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 49 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 London Stock Exchange
(ticker symbol: PEY). Further information:
www.princess-privateequity.net.
Contacts
Princess Private Equity Holding Limited:
princess@partnersgroup.com
www.princess-privateequity.net
Registered Number: 35241
Investor relations contact
George Crowe
Phone: +44 (0)20 7575 2771
Email: george.crowe@partnersgroup.com
Media relations contact
Partners Group
Jenny Blinch
Phone: +41 41 784 65 26
Email: jenny.blinch@partnersgroup.com
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
END
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