Princess Private Equity Holding Ltd NAV increases by 3.0% in March (2120X)
April 26 2019 - 1:01AM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 2120X
Princess Private Equity Holding Ltd
26 April 2019
News Release
Guernsey, 26 April 2019
NAV increases by 3.0% in March
-- Princess Private Equity Holding Limited's (Princess) net
asset value increased by 3.0% to EUR 11.51 per share
-- Portfolio developments (+3.1%) and currency movements (+0.1%) were positive
-- Princess received distributions of EUR 11.8 million and invested 9.8 million during the month
Princess received distributions of EUR 11.8 million during the
month, of which 6.0 million stemmed from the mature legacy fund
portfolio. Princess also received EUR 3.2 million of proceeds from
a partial divestment of shares in Ceridian HCM, a global human
capital management software provider, following Ceridian's listing
on the New York Stock Exchange in April 2018.
Princess invested a total of EUR 9.8 million during the month,
of which EUR 8.0 million was invested in an add-on investment in
Permotio International Learning, an investment vehicle formed to
create a leading international schools group through a 'buy and
build' strategy. The group has a healthy pipeline of acquisitions
and is in exclusivity over six transactions. In January 2019,
Permotio acquired Colegio Pedro de Valdivia, a Chile-based school
group that educates approximately 6'250 students, and Montessori
Academy of Broward, a US-based school of over 650 students. With
these two additions, Permotio has built a group educating over
30'000 children in 39 schools across Europe, Central America, the
US, the Middle East and Asia. The group was one of the top
contributors to Princess' NAV performance during the reporting
period. EBITDA for the twelve months ended 31 January 2019
increased by 70.5% to EUR 46.9 million, supported by M&A
activity, as well as like-for-like growth from higher student
enrolments and fee increases.
A number of other investments had a positive impact on NAV
performance in March, including Foncia and CPA Global. Foncia, a
France-based provider of property management and real estate
services, continued to deliver solid financial results. EBITDA
increased by 17% to EUR 191m, mainly as a result of Foncia's
acquisition strategy and a robust performance across all service
lines. Going forward Partners Group remains focused on working
closely with Foncia's management team to implement a new IT system
and aims to digitalize all business functions over the next three
years.
CPA Global, a Jersey-based legal outsourcing company providing
intellectual property management services, was written-up in value
following the company's recent merger announcement with
ipan/Delegate Group in January 2019. The combined company will be
able to offer customers an expanded range of solutions across a
broader geographical footprint, which will help drive CPA's global
growth strategy. The merger is also expected to realize cost
synergies and further value creation potential.
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 73 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: +44 207 575 2571
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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