Last checked at 
24 May 2017 16:02
News Release
Guernsey, 24 May 2017
NAV increases by 1.1%
· Princess Private Equity Holding Limited's ("Princess") net asset value increased by 1.1% to EUR 10.88 per share
· Currency movements (-0.2%) were slightly negative while overall portfolio developments (+1.4%) were positive
· Princess received distributions of EUR 17.5 million and invested EUR 11.3 million over the reporting period
Princess received a total of EUR 17.5 million during the month, including proceeds of EUR 9.7 million from private equity direct investment Hofmann Menue Manufaktur ("Hofmann"), a leading German producer and supplier of customized cooked and frozen food products to small and medium sized business canteens and social organizations. The proceeds were funded from the combination of a new term loan and balance sheet cash and returned approximately 0.6x initial invested capital. Since the acquisition in January 2014, Hofmann has reported solid financial results while generating strong cash flows. The company's management continues to pursue further sales efficiency gains through digitalization and enhanced customer relationship management initiatives. Hofmann has also initiated steps to further strengthen the control of operational and production costs by focusing on process enhancements along with identifying make-or-buy opportunities. Distributions of EUR 5.4 million stemmed from Princess' mature legacy fund portfolio.
Princess invested a total of EUR 11.3 million during the month, of which EUR 10.9 million was allocated to Cerba HealthCare ("Cerba"), a European medical laboratory services operator. The company is a leading operator of clinical pathology laboratories, with a number one position in France and strong market positions in Belgium and Luxembourg. The company is characterized by its successful M&A track record, outstanding financial performance and the presence of strong opportunities for both organic and external growth. Cerba has proven expertise in acquiring and integrating bolt-on acquisition targets in the highly fragmented French market. Partners Group will support the numerous growth opportunities of the business. These include the continuation of Cerba's highly successful M&A strategy within the French market and internationally, as well as the acceleration of organic growth and development in other segments.
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 54 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
Investor relations contact
George Crowe
Phone: +44 (0)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.