Last checked at 
26 Apr 2012 11:18
News Release
Guernsey, 26 April 2012
Princess's NAV increased by 0.7% in March
The net asset value (NAV) of Princess Private Equity Holding Limited (Princess) increased by 0.7% in March, to close the month at EUR 8.87 per share. Valuation developments had a positive (+0.9%) impact on NAV growth during the period, as underlying portfolio companies continued to post healthy results and a number of investments were exited above their previous carrying values. Currency effects on this occasion had a negligible impact on NAV performance.
In March, Princess fully realized its direct investment in GNC Holdings Inc. (GNC), the specialty retailer of health products, and prior to said exit, Princess' largest portfolio company holding. The sale of GNC represented a return of more than 4x the cost of Princess' original direct investment and an IRR above 35%. The realization of the direct investment generated overall proceeds of EUR 18.2 million in February and March 2012. In addition, Princess received a EUR 1.7 million distribution from its additional indirect holdings in GNC.
Patent management group CPA Global was another notable exit from the Princess portfolio during the month, with Princess receiving EUR 2.2 million from the sale of CPA to Cinven, the European private equity firm. Ziggo, the Dutch cable company, and an underlying holding in the Princess portfolio, was also partially exited via an IPO in March.
On aggregate, the mature Princess portfolio generated strong distribution proceeds of EUR 28.2 million in March, well in excess of the EUR 4.9 million in capital calls received. These positive cash flows continue to reinforce Princess' healthy balance sheet position.
Princess will hold a conference call on 27 April 2012, at 10.00am BST to update interested parties on the recent developments of the Princess portfolio. The information announced will refer to unaudited figures as of 31 March 2012.
Date: Friday, 27 April 2012
Time: 10:00-11:00am (Dublin, London)
11:00-12:00pm (Zurich, Frankfurt)
Phone number: +44 (0) 203 059 58 62 (from the UK)
+41 (0) 91 610 56 00 (from Continental Europe)
+1 (1) 866 291 41 66 (from the US)
All lines will be open ten minutes prior to the beginning of the conference call.
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 EUR 25 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 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
Investor relations contact
Jan-Frederik Modell
Phone: +44 (0)20 7575 2753
E-mail: jan-frederik.modell@partnersgroup.com
Media relations contact
Partners Group AG
Dr. Anna Hollmann
Phone: +41 41 784 63 72
E-mail: anna.hollmann@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. 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.