TIDMPEY TIDMPEYS

RNS Number : 6298R

Princess Private Equity Holding Ltd

25 September 2017

News Release

Guernsey, 25 September 2017

Princess publishes August NAV

-- Princess Private Equity Holding Limited's ("Princess") net asset value decreased by 0.2% to EUR 10.71 per share

   --    Overall portfolio developments (+0.1%) were offset by currency movements (-0.2%)

-- Princess received distributions of EUR 18.6 million and invested EUR 9.9 million over the reporting period

Distributions during August amounted to EUR 18.6 million of which EUR 6.7 million stemmed from the investment in KinderCare Education. Since the initial investment in July 2015, the largest for-profit provider of early childhood education in the US successfully deleveraged through robust financial performance and earnings growth. The company's management continues to analyze demographic trends for new potential center openings while implementing a pricing optimization model. In addition, Partners Group is actively exploring accretive and transformational acquisition opportunities to complement and expand the company. Princess also received EUR 4.4 million from the realization of AWAS Aviation, an Ireland-based aircraft leasing and trading company. The company first began preparations for an exit in early 2015, signing an agreement to sell a portfolio of 84 aircraft to Macquarie Group in order to optimize the size of the portfolio ahead of the final exit. The remaining distributions of EUR 7.5 million came predominantly from Princess' mature legacy fund portfolio.

Princess invested a total of EUR 9.9 million during the month, of which EUR 4.1 million was allocated to SPi Global, a leading provider of business process outsourcing services to education and research publishers worldwide. SPi is an attractive investment given its market leading position in a consolidating content solutions industry. Partners Group will work closely with SPi's management to build on the consolidation momentum within the industry and will focus on maintaining the growth in share of wallet with the company's existing customers. Also, Princess made an investment of EUR 3.4 million in Key Retirement Group ("KRG"), a leading UK provider of independent specialist advice and financial products for individuals approaching or in retirement. The company specializes in the origination and distribution of lifetime mortgages, which enable customers to release equity from their homes to fund their retirements. Partners Group will work closely with the management team on value creation initiatives such as expanding KRG's product portfolio.

Princess announced on 31 August 2017 that it intended to introduce an additional market quote in Sterling (the "Sterling Quote") for its existing ordinary shares on the London Stock Exchange alongside the existing Euro market quote (the "Euro quote"). Following application to the London Stock Exchange, the Sterling Quote was admitted to trading with effect from 8am BST on 8 September. The existing ISIN will apply for both the Euro Quote and the new Sterling Quote. A new SEDOL ("BF012D4") and TIDM ("PEYS") have been introduced for the Sterling Quote. The Board believes that the introduction of the Sterling Quote is likely to broaden the potential ownership of Princess' ordinary shares and in due course may therefore enhance their liquidity in the secondary market.

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 over EUR 57 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 London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net.

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: +41 41 784 65 26

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 company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

September 25, 2017 02:00 ET (06:00 GMT)

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