Princess Private Equity Holding Ltd Stable performance in July (0734I)
August 25 2016 - 1:01AM
UK Regulatory
TIDMPEY
RNS Number : 0734I
Princess Private Equity Holding Ltd
25 August 2016
News Release
Guernsey, 25 August 2016
Stable performance in July
-- Princess Private Equity Holding Limited's ("Princess") net
asset value ("NAV") stands at EUR 9.78 per share
-- Overall portfolio developments (+0.3%) were positive while
currency movements (-0.1%) were slightly negative
-- Princess received distributions of EUR 5.0 million from
exited investments and invested EUR 13.2 million
Distributions during the month came predominantly from Princess'
legacy third party fund portfolio (EUR 2.5 million). Princess also
received proceeds of EUR 1.3 million following the realization of
US-based semiconductor manufacturer Freescale Semiconductor.
Partners Group first invested in Freescale as part of a consortium
in 2006, but the company experienced a significant decline in
orders during the financial crisis which required it to reduce its
cost base. Freescale subsequently held its IPO in 2011, raising the
necessary capital to restructure its debt and held a secondary
offering in 2014. The company was acquired by Dutch competitor NXP
Semiconductors in a cash-and-stock transaction in December 2015,
which valued the combined enterprise at over USD 40 billion.
Princess received the cash proceeds from the transaction in April
this year and subsequently sold the stock component in July.
Princess invested a total of EUR 13.2 million during the month,
of which EUR 11.6 million was allocated to PCI Pharma Services
(PCI). Partners Group acquired the global pharmaceutical services
provider from selling private equity firm Frazier Healthcare
Partners. Headquartered in Philadelphia, USA, PCI offers outsourced
services across the entire pharmaceutical supply chain, including
drug development and manufacturing, clinical trials and packaging
services. The company has a diverse customer base of more than 350
companies, including the world's leading pharmaceutical
manufacturers. PCI employs more than 2'800 people across the US and
Europe, and generated sales of over USD 475 million in 2015.
Following the acquisition, Partners Group plans to work closely
with PCI's management team to add more specialized offerings to the
product range and expand the company, both organically and through
complementary add-on acquisitions.
On 18 August Princess held a conference call to update investors
on the company's performance and the development of its portfolio
during the second quarter of 2016. The presentation and replay
facility are now available on the company's website:
http://princess-privateequity.net/en/investor_relations/web_cast_live-events.php.
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@princess-privateequity.net
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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