Princess Private Equity Holding Ltd NAV increases by 3.1% in November (5745J)
23 Diciembre 2020 - 1:00AM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 5745J
Princess Private Equity Holding Ltd
23 December 2020
News Release
Guernsey, 23 December 2020
NAV increases by 3.1% in November
-- Princess Private Equity Holding Limited's (Princess or the
Company) net asset value increased by 3.1% to EUR 12.96 per
share
-- Portfolio developments were positive (+3.5%) and currency movements were negative (-0.2%)
-- Princess invested EUR 2.0 million during the month and
received distributions of EUR 2.0 million
In November, Princess' NAV increased by 3.1%. Valuation
increases were underpinned by positive news around the development
of COVID-19 vaccines and a general positive market sentiment.
Amongst the largest contributors to performance was GlobalLogic.
The company provides outsourced software product engineering
services for businesses globally, supporting clients' digital
transformation and strengthening their digital capabilities,
products, and end-customer experiences. During November,
GlobalLogic acquired ECS Group, a London-based cloud digital
solutions provider with a focus on digital engineering, data
analytics, and customer experience. ECS strengthens GlobalLogic's
footprint in the U.K. and expands the company's financial services
customer base and capabilities.
Princess invested a total of EUR 2.0 million in November, of
which EUR 1.9 million was invested in the merger of portfolio
company Curvature and Park Place Technologies (Park Place). During
the month Partners Group, on behalf of its clients, closed the sale
of Curvature's maintenance, services, and hardware businesses to
Park Place, a global third-party maintenance (TPM) provider of
post-warranty data center maintenance services to small-to-medium
sized enterprises. Park Place's acquisition of Curvature will
further strengthen its leading position as the number-one player in
the IT maintenance and services business with a global footprint
and complementary service offerings. As part of the transaction,
Princess and other Partners Group clients invested capital to
participate in the future growth of the combined business. Going
forward, Park Place will continue to consolidate the US TPM market
via tuck-in acquisitions, and to execute on its international
acquisition strategy.
Princess received distributions of EUR 2.0 million during the
month, with the majority stemming from Princess' mature legacy fund
portfolio.
Princess declared a second interim dividend of EUR 0.29 per
share in November, with the shares trading ex-dividend during the
month. In aggregate with the first interim dividend of EUR 0.145
per share, this represents a total dividend for FY 2020 of EUR
0.435 per share. The Company also provided guidance for FY 2021
that it intends to pay a total dividend of 5% of opening net asset
value via semi-annual payments.
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 96 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.
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END
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December 23, 2020 02:00 ET (07:00 GMT)
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