(Alliance News) - Princess Private Equity Holding Ltd on Thursday reported an increase in its net asset value, and announced the appointment of Peter McKellar as its chair.
The Partners Group AG-managed investor in private companies said NAV at September 30 was EUR15.12 per share, up from EUR14.77 at June 30.
It delivered an NAV total return in its third quarter of positive 2.4%, with a year-to-date return of positive 6.0%.
On Thursday the investor also welcomed Peter McKellar as its new chair, following Richard Battey's retirement earlier this year after five years in the role.
Princess Private Equity said McKellar, alongside the other directors, "will be focusing on further strengthening the board."
"These appointments will bolster the board's expertise to ensure it has the necessary skills and experience to support the strategic direction of the company", it added.
McKellar is currently a non-executive director of 3i Group PLC, the deputy chair of AssetCo PLC, and the vice chair of Investcorp Europe Acquisition Corp 1.
He was formerly the global head of Private Markets at Standard Life Aberdeen PLC, before which he led Standard Life Investments's private equity and infrastructure business and served as its chief investment officer.
Princess Private Equity thanked Fionnuala Carvill for her time as interim chair while it searched for a permanent candidate, saying: "We appreciate the leadership Ms. Carvill provided during her tenure and are grateful for her service to the company."
Shares in Princess Private Equity were up 2.6% at 919.00 pence each in London on Thursday morning.
By Sabrina Penty, Alliance News reporter
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Princess Priv E (PEY)