Princess Private Equity Holding Ltd NAV increases by 4.2% in September (7744Q)
23 Octubre 2019 - 1:00AM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 7744Q
Princess Private Equity Holding Ltd
23 October 2019
News Release
Guernsey, 23 October 2019
NAV increases by 4.2% in September
-- Princess Private Equity Holding Limited's (Princess) net
asset value increased by 4.2% to EUR 12.16 per share
-- Portfolio developments (+4.9%) were positive and currency movements flat
-- Princess invested EUR 2.2 million during the month and
received distributions of EUR 4.9 million
Princess invested EUR 2.2 million in BCR Group in September.
Founded in 2008 and headquartered in Shanghai, BCR Group provides
retail display solutions, offering design and manufacturing
services as well as installation of display fixtures, primarily in
the sportswear segment. Sportswear retail is the fastest growing
segment of the Chinese retail market, having grown at a
double-digit CAGR between 2014 and 2018. BCR is considered an
attractive investment given its blue-chip customer base and robust
business model which generates recurring revenue through store
revamps and upgrades, new store openings and seasonal fashion
displays. Following the acquisition, Partners Group will work
closely with BCR to drive consolidation of the retail display
market and to expand into adjacent end-markets.
Amongst others, Permotio, Action and KinderCare had a positive
impact on NAV performance in September. Permotio International
Learning, an investment vehicle formed to create a leading
international schools group through a buy-and-build strategy, was
written up as a result of strong financial performance. Adjusted
EBITDA increased by 38.0% to EUR 74.4 million over the same period,
driven by the acquisitions and like-for-like growth at existing
schools. Permotio completed five acquisitions during the twelve
months ended 30 June 2019, expanding its platform to 41 schools in
10 countries, educating approximately 39'000 students.
Action, the leading European non-food discount retailer, was
positively revalued to reflect an increase in reported EBITDA. The
company continues to expand its European footprint. From 250 stores
in 2011, Action now operates over 1'440 stores across Benelux,
Germany, France, Poland and Austria. Going forward the company will
focus on strengthening its supply chain infrastructure in order to
support the ongoing store roll-out program.
KinderCare Education, the largest private early education
provider in the US, was revalued upwards on the back of robust
financial results. The results were mainly driven by higher tuition
rates, a greater number of full-time students in attendance and
strong growth from new center openings.
Princess received distributions of EUR 4.9 million during the
month, of which EUR 1.4 million stemmed from the ongoing sale of
shares in Ceridian HCM, following the company's listing on the New
York Stock Exchange in April 2018.
Further information is available in the monthly report, which
can be accessed via:
http://www.princess-privateequity.net/financialreports.
Princess will hold its quarterly investor conference call on 12
November 2019 10:00 AM GMT / 11:00 AM CET and will provide a
detailed update on the recent portfolio developments. Please find
the dial-in details on the Company's webpage.
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 80 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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