PEY Princess Private Equity Holding Limited

TIDMPEY TIDMPEYS

RNS Number : 6480M

Princess Private Equity Holding Ltd

23 September 2021

News Release

Guernsey, 23 September 2021

NAV increases by 1.1% in August

-- Princess Private Equity Holding Limited's (Princess or the Company) net asset value increased by 1.1% to EUR 15.49 per share

   --    Portfolio developments (+1.4%) were positive while currency movements were negative (-0.1%) 
   --    Princess invested EUR 90.2 million and received distributions of EUR 18.5 million 

During the month Princess invested EUR 90.2 million, of which EUR 7.8 million was invested in Apex Logistics ("Apex"), a globally integrated logistics solutions provider. Partners Group closed the acquisition of a 24.9% stake in Apex from majority shareholder Kuehne+Nagel, one of the world's leading logistics companies. Founded in 2001 and headquartered in Hong Kong and Shanghai, Apex is a leading player in the China cross-border freight forwarding market, with a growing international presence and significant potential for further expansion. Partners Group and Kuehne+Nagel will work closely to implement a transformational value creation plan for Apex together with the company ' s management team. Key initiatives include establishing new freight forwarding routes; identifying new growth verticals, such as healthcare; and M&A.

EUR 6.6 million was invested in Reedy Industries ("Reedy"), a leading provider of commercial heating, ventilation, and air conditioning ("HVAC") services. Reedy combines technical expertise and financial resources with a local high-touch delivery model, to act as a strategic partner for servicing complex equipment with high costs of failure or downtime. Partners Group will draw on its extensive experience transforming leading route-based commercial and facility services businesses to support Reedy's customer-centric value creation plan. Key initiatives will include geographic expansion to a multi-regional footprint with well-known hubs and local customer relationships, growing strategic accounts, expanding service capabilities, and partnering with customers on sustainability and energy efficiency solutions.

Following an active period for distributions, EUR 75 million was invested in senior loans. The allocation to senior loans has been made on a temporary basis for liquidity management purposes, and capital will be redeployed in future direct private equity investments.

Princess received distributions of EUR 18.5 million during the month, of which EUR 8.6 million stemmed from the sale of a confidential investment in a global provider of educational materials and learning solutions. Further, Princess received the final tranche of proceeds in amount of EUR 4.0 million from the sale of Cerba HealthCare, a leading global player in medical diagnostics. The remaining balance of EUR 5.9 million was received from Princess' mature legacy fund portfolio and private debt investments.

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 119 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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END

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(END) Dow Jones Newswires

September 23, 2021 01:59 ET (05:59 GMT)

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