PEYS Princess Private Equity Holding Limited

TIDMPEY TIDMPEYS

RNS Number : 5328G

Princess Private Equity Holding Ltd

24 July 2019

News Release

Guernsey, 24 July 2019

NAV increases by 2.3% in June

-- Princess Private Equity Holding Limited's (Princess) net asset value increased by 2.3% to EUR 11.64 per share

   --    Portfolio developments (+2.9%) were positive and currency movements negative (-0.4%) 

-- Princess invested EUR 13.5 million during the month and received distributions of EUR 2.6 million

Princess invested a total of EUR 13.5 million in June, of which EUR 5.4 million was invested in Confluent Health. Headquartered in Louisville, Kentucky, Confluent is one of the largest (by number of clinics) independent outpatient physical therapy (PT) service providers in the US, with over 2'000 employees and 198 operating clinics. Confluent Health is considered an attractive investment given its position as a leading PT player in a fragmented market, with the top 15 clinics representing just 12% of total clinics in the US. Confluent is expected to benefit from long term industry tailwinds driven by an aging population with chronic conditions. Following the acquisition, Partners Group will work closely with Confluent's management team on opening new locations and driving same-store growth. The company will also continue to execute its M&A strategy through bolt-on acquisitions and selective larger strategic acquisitions.

EUR 7.9 million was invested in Idera as part of a minority equity recapitalization alongside existing investors. The Houston-based company is a provider of on premise and cloud-based infrastructure software solutions used for testing, application development, and database architecture and management. The company has over 50'000 customers worldwide in industries spanning education, energy, financial, government, healthcare, manufacturing, media, retail and technology.

Princess received distributions of EUR 2.6 million during the month, of which EUR 1.1 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.

A number of investments had a positive impact on NAV performance in June, including Action, Foncia and Vishal Mega Mart. Action, a leading European non-food discount retailer, was revalued positively on the back of continued solid financial results. The healthy financial performance was driven by strong like-for-like sales growth and by the company's expansion plans. Foncia, a leading provider of property management and real estate services based in France, saw its revenue increase by 4.5% year on year to EUR 892.2 million while EBITDA increased by 15.2% to EUR 197.2 million, due to improved performance in its core business of residential real estate services and growth of its international business. Vishal Mega Mart, a leading chain of Indian hypermarkets, reported robust growth in EBITDA year on year. The growth was primarily attributable to the rollout of over 50 new franchisee stores during the financial year taking the total number of stores to over 300, as well as strong same-store sales growth.

Further information is available in the monthly report, which can be accessed via: http://www.princess-privateequity.net/financialreports.

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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