REG - Princess Private Eq. Princess Priv E-PEYS - NAV increases by 3.6% in March

Princess Private Equity HoldingAnnouncement

07/05/2024 07:15

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RNS Number : 2971N  Princess Private Equity Holding Ltd  07 May 2024

(LSE: PEYS/PEY)

Princess Private Equity Holding Limited

 

NAV increases by 3.6% in March

 

 

·    NAV increased by 3.6% to EUR 14.67 per share; total net assets at EUR
1'014.20 million

·    Value creation at portfolio level added 4.6%, while currency
movements were flat

·    Recently announced sale
(https://otp.tools.investis.com/clients/uk/princess_private_equity/rns/regulatory-story.aspx?cid=2492&newsid=1805611)
of SRS Distribution, the second largest portfolio company, was the largest
contributor to NAV increase

·    Princess invested EUR 16.7 million and received distributions of EUR
2.4 million

 

Princess invested EUR 16.7 million, of which EUR 10.1 million was invested in
ROSEN Group, a global provider of recurring, regulatory-driven inspection and
integrity management services for energy transmission pipelines. Headquartered
in Switzerland, ROSEN's core business involves the sending of high-tech,
precision sensors through pipelines to detect corrosion or minor cracks,
helping customers to optimize throughput and extend the useful life of
essential infrastructure assets. Value creation initiatives include sales
force and go-to-market optimization, and continued investment in technological
innovation, R&D, and capital expenditure. As part of the transaction, the
company's founder, Hermann Rosen, retained a significant minority stake and a
seat on the board of directors.

 

EUR 6.4 million was invested in Velvet CARE, one of the leading European
manufacturers of hygiene paper products. Headquartered in Klucze, Poland, with
a history stretching back to 1897, Velvet CARE is one of the largest
independent manufacturers of branded and private-label hygiene paper products,
including toilet paper, paper towels, paper tissues, and moist toilet paper,
in Central and Eastern Europe. With 850 employees, Velvet CARE distributes
finished branded and private-label products via supermarkets, discounters,
wholesalers, and other retailers. Its largest markets include Poland, the
Czech Republic, and Germany.

 

During the month, Princess received EUR 2.4 million in distributions
predominantly from the mature legacy fund portfolio.

 

Furthermore Galderma, a global dermatology company that develops,
manufactures, and distributes a range of medical and consumer skin health
solutions, announced its initial public offering ("IPO") on the SIX Swiss
Exchange. Headquartered in Switzerland, the company has a global presence in
over 50 locations across 40 countries, offering a portfolio of brands such as
Epiduo, Differin, Dysport, Cetaphil, and Benzac. At the end of March,
Princess' investment in Galderma was valued at EUR 24.6 million, consistent
with February's carrying value. Princess is not expected to receive
substantial proceeds in the short-term, while a lock-up period in connection
with the IPO has been agreed upon for both selling shareholders and the
company.

 

 

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 in private equity direct investments. Princess is managed
in its investment activities by Partners Group, a global private markets
investment management firm with USD 147 billion in investment programs under
management in private markets, of which USD 76 billion is in private equity.
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

 

 Investor relations contact:      Media relations contact:

 princess@partnersgroup.com       Jenny Blinch

 www.princess-privateequity.net   Phone: +41 41 784 65 26

                                  E-mail: jenny.blinch@partnersgroup.com

 

Registered Number: 35241   LEI: 54930038LU8RDPFFVJ57

Notes:

1.     Note that references in this announcement to Princess Private
Equity Holding Limited have been abbreviated to "Princess" or "Company".
References to Partners Group AG have been abbreviated to "Partners Group " or
"Investment Manager".

2.     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
Private Equity Holdings. 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 is not for distribution or publication, neither
directly nor indirectly, in or into the United States of America, Canada,
Australia or Japan.

3.     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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