Princess Private Equity Holding Ltd NAV increases by 1.0% (7329X)
February 24 2017 - 1:00AM
UK Regulatory
TIDMPEY
RNS Number : 7329X
Princess Private Equity Holding Ltd
24 February 2017
News Release
Guernsey, 24 February 2017
NAV increases by 1.0%
-- Princess Private Equity Holding Limited's ("Princess") net
asset value ("NAV") increased by 1.0% to EUR 10.27 per share
-- Currency movements (-0.2%) were slightly negative while
overall portfolio developments (+1.2%) were positive
-- Princess received distributions of EUR 1.3 million and
invested EUR 12.6 million over the reporting period
Princess made an additional commitment of EUR 40 million to
Partners Group Direct Equity 2016 program (previously announced
following approval by the Board in November 2016) which held a
closing during the month. This follows Princess' initial commitment
of EUR 40 million to the program. As part of the equalization
process to ensure equal treatment of investors in the program,
Princess was subject to net capital calls of EUR 8.5 million (being
the net of the equalization adjustments for each of Princess'
commitments to the program). To-date Princess has committed a total
of EUR 80 million to the Direct 2016 program, of which EUR 54.9
million remained undrawn as of month-end.
Distributions during January amounted to EUR 1.3 million of
which EUR 1.1 million stemmed from the legacy fund portfolio.
Furthermore, Partners Group agreed to acquire a stake in Cerba
Healthcare (Cerba), a leading operator of clinical pathology
laboratories with a number one position in France and strong market
positions in Belgium and Luxembourg. The majority of Cerba's
revenues are generated via routine lab tests. The company also
focuses on specialty lab testing for more complex medical diagnoses
and testing services for clinical trials. Cerba's clients include
private patients, physicians, labs, private and public hospitals,
retirement and nursing homes, and pharmaceutical and biotech
companies. The company employs almost 4,300 people, including 350
biologists, and generated revenues of approximately EUR 630 million
in 2016. Princess will participate in the transaction which is
expected to close in the coming months.
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 54.2 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
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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