Princess Private Equity Holding Ltd NAV increases by 0.2% (2993G)
March 01 2018 - 1:00AM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 2993G
Princess Private Equity Holding Ltd
01 March 2018
News Release
Guernsey, 1 March 2018
NAV increases by 0.2%
-- Princess Private Equity Holding Limited's (Princess) net
asset value increased by 0.2% to EUR 10.75 per share
-- Portfolio developments were positive (0.7%) and currency movements (-0.5%) were negative
-- Princess received distributions of EUR 19.2 million and
invested EUR 2.7 million over the reporting period
Princess received distributions of EUR 19.2 million during the
month, including EUR 12.4 million of proceeds from the sale of its
remaining shares in VAT Group AG (VAT). After four years of
ownership, the investment generated a multiple of 6x on invested
capital and an IRR of 74%. Since the acquisition of the company in
February 2014, Partners Group has driven forward a wide range of
value creation initiatives to strengthen VAT's organizational,
process and financial capabilities. Princess also received a
dividend of EUR 2.7 million from Varsity Brands, a US-based
manufacturer and distributor of sports and affinity products to the
K-12 and collegiate student market. The dividend, which represents
53% of invested capital, was funded by the issuance of new term
loans and balance sheet cash. Between December 2014 and November
2017, Varsity Brands' revenue increased significantly, mainly
driven by strong organic growth and several add-on acquisitions in
the BSN Sports and Varsity Spirits business segments. EUR 2.1
million stemmed from the sale of the remaining shares in a US
entertainment company (name withheld due to a confidentiality
agreement), a global leisure corporation that owns and operates
casinos, hotels and golf courses. The remaining distributions of
EUR 2.0 million came predominantly from Princess' mature legacy
fund portfolio.
Princess invested a total of EUR 2.7 million during the month,
the majority of which was allocated to liquid loans for liquidity
management purposes.
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 EUR 61.9 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:
princess@partnersgroup.com
www.princess-privateequity.net
Registered Number: 35241
LEI: 54930038LU8RDPFFVJ57
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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