Princess Private Equity Holding Ltd NAV increases by 7.3% in March (9511W)
29 April 2021 - 4:00PM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 9511W
Princess Private Equity Holding Ltd
29 April 2021
News Release
Guernsey, 29 April 2021
NAV increases by 7.3% in March
-- Princess Private Equity Holding Limited's (Princess or the
Company) net asset value increased by 7.3% to EUR 14.49 per
share
-- Portfolio developments (+8.3%) and currency movements (+0.1%) were positive
-- Princess invested EUR 34.0 million during the month and
received distributions of EUR 13.5 million
Princess invested a total of EUR 34.0 million during March, of
which EUR 14.5 million was invested in Telepass, a leading European
provider of electronic toll collection (ETC) services. Telepass
provides services to approximately 7 million clients, with an asset
base of more than 12 million active payment devices. The company
processes around EUR 7 billion in annual transactions across 14
European countries. Telepass complements its core ETC services with
other transport-related services, such as digital mobility payments
and personal mobility insurance services. Partners Group will work
closely with Telepass' management on a number of strategic value
creation initiatives, with key areas of focus including the further
penetration and consolidation of the European ETC market through
organic and acquisitive growth, strengthening the company's
"one-stop mobility payment" solution for B2C and B2B customers, and
scaling mobility insurance coverage across Europe.
EUR 13.8 million was invested in Idera, a provider of
infrastructure software solutions to businesses for testing,
application development and database architecture and management,
both on premises and in the cloud. Idera has 700,000 users globally
across a wide range of industries, including technology, financial
services, legal, pharmaceuticals, government and non-profit, energy
and education. Partners Group will work closely with the company to
further develop its pipeline of strategic M&A opportunities and
optimize its sales and marketing processes.
EUR 5.6 million was invested in Ecom Express (Ecom), one of the
largest providers of technology-enabled end-to-end logistics
solutions to the fast-growing Indian e-commerce industry. Ecom's
logistics network covers more than 95% of India's population, with
the company delivering close to one million shipments daily through
approximately 2,800 delivery centres. Following the transaction,
Partners Group will work closely with Ecom in accelerating its core
business growth, expanding its product offerings, and entering new
segments and markets.
During the month Princess received distributions of EUR 13.5
million, of which EUR 9.7 million stemmed from Foncia, the leading
French property management and real estate services provider,
following a refinancing of the company's debt. The refinancing
allowed the company to repay its existing indebtedness, raise
additional funds for future acquisitions, and pay a dividend to
shareholders. The remaining balance of EUR 3.8 million was received
from Princess' mature legacy fund portfolio.
Princess will hold a quarterly investor update on 19 May 2021 at
10:00 BST / 11:00 CET. During the webcast, Partners Group, the
Investment Manager to Princess, will give an update on the recent
developments of the Princess portfolio based on unaudited figures
as of 31 March 2021. Please find the registration details on the
Company's webpage.
Further information is available in the monthly report, which
can be accessed via:
http://www.princess-privateequity.net/en/investor-relations/financial-reports/
.
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 managed in its investment
activities by Partners Group, a global private markets investment
management firm with USD 109 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 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.
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