Last checked at 
13 Jan 2010 17:46
News Release
Guernsey, 13 January 2010
Princess NAV increases by 5.3% in December; quarterly update conference call to be held on 14 January 2010
The net asset value ("NAV") of Princess showed a strong positive performance of 5.31% in December, closing the year at an unaudited NAV of EUR 7.35 per share. Valuations of the underlying portfolio companies continued, in aggregate, to develop positively and had a positive impact on the December NAV of 3.91%. This recovery in valuations reflects the active management approach private equity managers are using to generate additional value in their portfolio companies and prepare them for future growth and a successful realization. With the US dollar strongly appreciating against the Euro in December, the foreign exchange movements contributed a positive 1.98% to the NAV. This result is estimated on the basis of currently available information and is subject to review in the audit of the annual financial statements.
In December, Princess benefited from strong distributions from exited investments which amounted to EUR 14 million, compared to EUR 6 million in drawdowns from partnerships. Amongst others, Princess received EUR 3 million from Dolphin Communications Fund's exit of Gomez, a solution provider for optimizing the performance, availability and quality of its clients' online and mobile applications. The exit generated a 7.7x return for the partnership.
Urs Wietlisbach, Director of Princess, comments: "Princess' mature portfolio was able to take advantage of the improved market environment and received significant distributions from exited investments in December and the fourth quarter of 2009 overall. We are pleased to see that proceeds from exited investments exceeded the capital called to fund new investment opportunities by EUR 5 million during the fourth quarter, representing the first positive quarterly cash flow from the portfolio since 2007. In combination with the strong positive NAV performance, this highlights the high quality of the portfolio and strengthens our confidence in Princess for the year 2010 and beyond."
Princess will hold a conference call tomorrow, 14 January 2010 at 9.30am BST in English and at 8.30am BST in German to update interested parties on the recent developments of the Princess portfolio. The information disclosed will refer to unaudited figures as at 31 December 2009.
Date:Thursday, 14 January 2010
Time:
English:
9:30-10:15am (Dublin, London)
10:30-11:15am (Zurich, Frankfurt)
German:
8:30-9:15am (Dublin, London)
9:30-10:15am (Zurich, Frankfurt)
Phone number:
+44 207 107 0611 (from the UK)
+41 (0)91 610 5600 (from Continental Europe)
+1 (1) 866 291 4166 (from the US)
All lines will be open 10 minutes prior to the beginning of the conference call.
The result presentation will be available at http://www.princess-privateequity.net/en/investor_relations/web_cast_live-events.php?ml ahead of the conference call.
About Princess
Princess is an investment holding company founded in 1999 and domiciled in Guernsey that invests in private equity and private debt investments. The Company is advised in its investment activities by Partners Group AG, a global private markets asset management firm with over CHF 25 billion in investment programs under management in private equity, private debt, private real estate, private infrastructure, absolute return strategies and listed alternatives. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Frankfurt Stock Exchange (ticker symbol: PEY1) and on the London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net
Contacts
Princess Private Equity Holding Limited:
princess@princess-privateequity.net
www.princess-privateequity.net
Registered Number: 35241
Media enquiries:
Partners Group AG
Tamara Krebs
Communications
Tel.: +41 41 768 85 26
tamara.krebs@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 Private Equity Holding Limited. 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.
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.
Approved by Partners Group (UK) Ltd., authorised and regulated by the Financial Services Authority in the United Kingdom.