NAV increases by 0.3% in March

Princess Private Equity Holding Ltd

02 May 2023

 

(LSE: PEYS/PEY)

Princess Private Equity Holding Limited

NAV increases by 0.3% in March

·    Net asset value increased by 0.3% to EUR 14.83 per share, total NAV at EUR 1'025.21 million

·    Portfolio revaluations were positive (+0.5%) and currency movements were negative (-0.3%)

In March, Princess' NAV continued to develop positively and increased by 0.3%. The main contributor to the positive performance was KinderCare, the largest for-profit provider of early childhood education and care services in the US, whose valuation increased over the first quarter of 2023. Over the last twelve-month period ending January 2023, KinderCare reported double-digit growth in revenue and EBITDA, mainly attributable to strong enrolment rates.

Post-month end, on 19 April, the Board of Directors announced a first interim dividend of EUR 0.365 per share for FY 2023, in-line with previous guidance to distribute 5% of opening net asset value for each financial year, via semi-annual payments. The first interim dividend will be paid on 02 June 2023, with the corresponding ex-dividend date being 27 April 2023.

FX hedging termination: Investors are reminded that the FX hedging contracts unwound on 31 March 2023. The major currency exposures¹ are EUR: 45%, USD: 43% and Other: 12%. Please access the Company's website for detailed information regarding the currency exposure.

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 135 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:

[e-mail]

www.princess-privateequity.net

Investor relations contact: Sarah Page Phone: [phone] E-mail: [e-mail]

Media relations contact: Jenny Blinch Phone: [phone] E-mail: [e-mail]

Registered Number: 35241   LEI: 54930038LU8RDPFFVJ57

Footnotes:

1.     Based on NAV. Figures are subject to estimates and rounding. Net currency exposure as per reporting date. The net currency exposure is calculated looking through Partners Group programs. Diversification does not ensure a profit or protect against a loss; the portfolio composition may change over time.

Notes:

1.     Note that references in this announcement to Princess Private Equity Holding Limited have been abbreviated to "Princess" or "Company". References to Partners Group AG have been abbreviated to "Partners Group " or "Investment Manager".

2.     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 Private Equity Holdings. 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 is not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.

3.     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.

 

END