Last checked at 
26 Nov 2019 07:00
News Release
Guernsey, 26 November 2019
Princess publishes October NAV
·; Princess Private Equity Holding Limited's (Princess) net asset value decreased by 0.4% to EUR 12.12 per share
·; Portfolio developments (+0.1%) were positive and currency movements(-0.3%) negative
·; Princess invested EUR 10.7 million during the month and received distributions of EUR 8.6 million
Princess invested EUR 9.7 million in Nestlé Skin Health, a carve-out from food and beverage company Nestlé, together with a consortium of investors led by private equity firm EQT Partners. Galderma, rebranded from Nestlé Skin Health, is the world's largest independent global dermatology company operating three business divisions: aesthetics, prescription and consumer. Partners Group considers Galderma as well-positioned for long-term growth in the highly attractive dermatology sector, which is driven by aging populations, increasing awareness, and a rising middle class in emerging markets.
Princess received distributions of EUR 8.6 million during the month, predominantly from the mature legacy fund portfolio.
In October, Partners Group agreed the sale of Vermaat, the Dutch market leader in high-end catering and hospitality services. The company will be acquired by Bridgepoint, an international private equity group, subject to approval from the Dutch Works Council and other regulatory bodies. Princess will receive estimated proceeds of EUR 17.8 million upon closing of the transaction.
Post-period end, Partners Group agreed to sell its equity stake in Action, Europe's leading non-food discount retailer. The stake will be acquired by Hellman & Friedman, a US-headquartered private equity firm. Alongside other funds managed and/or advised by Partners Group, Princess will fully realize its investment in Action at a marginal uplift to the 31 October 2019 carrying value. The exit valuation will be reflected in Princess' net asset value as of 30 November 2019.
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 EUR 80 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 Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).
Contacts
Princess Private Equity Holding Limited:
princess@partnersgroup.com
www.princess-privateequity.net
Registered Number: 35241
LEI: 54930038LU8RDPFFVJ57
Investor relations contact
George Crowe
Phone: +44 (0)20 7575 2771
Email: george.crowe@partnersgroup.com
Media relations contact
Jenny Blinch
Phone: +44 207 575 2571
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.