Partners Grp E Regulatory News (PEY)

31 Jul 2008 15:30



News Release

Guernsey, 31 July 2008

Princess publishes first half 2008 results 

Princess Private Equity Holding Limited ("Princess") today announces the publication of its half-yearly report for the six months ended 30 June 2008. Per end of June 2008, the net asset value ("NAV") of Princess stands at EUR 9.20 per share, translating into a total return to shareholders (NAV plus dividend) over the period of -1.4% and demonstrating the portfolio's stability even against the backdrop of the challenging current market environment. Notable events during the first half of 2008 include:

Princess paid its shareholders a semi-annual dividend of EUR 0.30 per share in June, which translates into an annualized dividend yield of 8.5% based on the closing share price in Frankfurt on 30 June 2008.

Overall, portfolio partnerships reported increases in value, highlighting their confidence in the quality and future prospects of their investments.

The depreciation of the US dollar, valuation adjustments under IFRS as well as corrections in the listed portion of the portfolio irrespective of the quality of the underlying companies all had an unfavorable impact on the NAV reflecting the prevalent turbulent market conditions.

Princess made one new secondary, one direct and six primary investments to, amongst others, funds aiming to capitalize on the excellent distressed opportunities currently available in global financial markets.

Urs Wietlisbach, Director of Princess, comments: "As demonstrated by the portfolio performance of the partnerships, the quality of the well-diversified, mature Princess portfolio remains sound and thus very attractive. Princess pursues a long-term investment strategy and, notwithstanding short-term market fluctuations, the assessment of the prospects for the Princess portfolio continues to be positive."

A detailed analysis and commentary on the first half 2008 developments at Princess are presented in the half-yearly report published today, which can be accessed via 

http://www.princess-privateequity.net 

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 alternative asset management firm listed on the SWX Swiss Exchange (ticker symbol: PGHN) with over CHF 25 billion assets under management in private equity, private debt, private real estate, listed alternative investments, hedge funds and alternative beta strategies. 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:

Ken Ball

General Manager

Phone: +44 1481 730 946

princess@princess-privateequity.net

www.princess-privateequity.net

Media enquiries:

Partners Group AG

Tamara Krebs

Communications 

Tel.: +41 41 768 85 26

tamara.krebs@partnersgroup.net

www.partnersgroup.net

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.