Last checked at 
29 Oct 2014 07:36
News Release
Guernsey, 29 October 2014
Direct investments drive strong performance of 4.7% in September
è Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") increased by 4.7% to EUR 8.68 per share, year-to-date NAV growth stands at 11.0%
è Portfolio developments (4.6%) and currency movements (0.8%) have been positive during the month
è Princess deployed EUR 5.0 million to new direct investments and received distributions of EUR 7.4 million
Princess' NAV developed favorably in September and the main performance drivers came from the quarterly revaluation of Princess' direct portfolio. The largest contributor was MultiPlan, a healthcare cost management provider, which recorded strong financial performance for the quarter ending 30 June 2014. The company was highly cash generative, outperforming forecasts. In order to broaden the company's existing product portfolio the cash was used to fund the acquisition of a company which develops analytics to identify abusive bills. Additionally, security service provider Universal Services of America reported strong figures for the first half of the year. Besides the strong acquisition activity since Partners Group's investment, the company also grew organically. Another driver was Trimco International, a leading global supplier of garment labels, tags and trimming products, which reported improved results and was written up accordingly. In addition, Trimco distributed proceeds of EUR 2.5 million to Princess, with a further EUR 0.9 million received after month end. In total, this represents 0.45x of Princess' initial investment cost.
During the reporting period, Partners Group completed the previously announced acquisition of Voyage Care in a GBP 375 million transaction. Princess' exposure to the company amounts to GBP 4.9 million. Voyage Care is a provider of specialist care and support services to people with learning disabilities and acquired brain injuries in the UK. It is the clear market leader providing care in a total of 290 homes as well as through supported living. The company commands a strong reputation for offering high quality care and exhibited solid growth for the past several years. Going forward, Partners Group plans to grow the company organically and by capitalizing on consolidation opportunities in the fragmented market.
Princess will hold an investor conference call on 13 November 2014, at 9:00am GMT to update interested parties on the recent developments of the Princess portfolio. The information announced will refer to unaudited figures as of 30 September 2014.
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Date: | Thursday, 13 November 2014
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Time: | 9:00 - 10:00 GMT (Dublin, London) 10:00 - 11:00 CET (Zurich, Frankfurt)
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Phone numbers: | +44 (0)203 059 58 62 (from the UK) +41 (0)58 310 50 00 (from Continental Europe) +1 (1)631 570 56 13 (USA)
All lines will be open 10 minutes prior to the beginning of the conference call.
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The results presentation will be available shortly before the call at http://www.princess-privateequity.net/en/investor_relations/web_cast_live-events.php?ml.
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 AG, a global private markets investment management firm with over EUR 33 billion (over USD 40 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@princess-privateequity.net
www.princess-privateequity.net
Registered Number: 35241
Investor relations contact
George Crowe
Phone: +44 (0)20 7575 2771
E-mail: george.crowe@partnersgroup.com
Media relations contact
Partners Group AG
Jenny Blinch
Phone: +41 41 784 65 26
E-mail: 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 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. 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.