Princess Private Equity Holding Ltd Princess publishes December NAV (1797O)
28 January 2019 - 6:00PM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 1797O
Princess Private Equity Holding Ltd
28 January 2019
News Release
Guernsey, 28 January 2019
Princess publishes December NAV
-- Princess Private Equity Holding Limited's (Princess) net
asset value decreased by 1.6% to EUR 10.90 per share
-- Portfolio developments (-1.3%) were negative as well as currency movements (-0.2%)
-- Princess received distributions of EUR 19.7 million and
invested EUR 5.0 million over the month
Princess received distributions of EUR 19.7 million during the
month, including proceeds of EUR 3.8 million from a shareholder
loan repayment from Vermaat, a leading Dutch outsourced hospitality
and premium catering services provider. The proceeds allow Partners
Group to partially de-risk its investment in Vermaat and return a
substantial portion of cost to investors. The proceeds stemmed from
a refinancing of the 2015 acquisition debt for Vermaat. The
refinancing lowers the company's total annual interest expenses,
while increasing the size of the company's revolving capital
facility to cover working capital and to fund potential
acquisitions. Since Partners Group's acquisition in December 2015,
Vermaat has performed above initial expectations, with revenue and
EBITDA above the base-case. EUR 2.9 million was received from
Princess' mature legacy fund portfolio. Princess also received EUR
11.2 million from the sale of first lien loans.
Princess invested a total of EUR 5.0 million during the month,
of which EUR 4.0 million was provided as additional capital to
Permotio International Learning, an investment vehicle formed to
create a leading international schools group through a 'buy and
build' strategy. The capital will be used to fund future
acquisition opportunities. The group is currently in exclusivity
over two transactions and has a healthy pipeline of acquisitions.
Permotio recently acquired US-based Baton Rouge International
School in October 2018, adding 475 students to the group's
portfolio. As of November 2018, Permotio had built a of portfolio
of 33 schools in 7 countries, educating over 27'000 students. In
addition to growth from acquisitions, Permotio also achieved
like-for-like revenue growth from increases in fees and student
enrolments.
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
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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