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24 Jun 2008 09:41
News Release
Guernsey, 24 June 2008
Princess partnership TA Associates sells Creditex at 4x multiple
The Princess Private Equity Holding Limited ("Princess") partnership TA Associates has sold Creditex Group, the global market leader and innovator in execution and processing of credit derivatives, generating a return of at least four times its original investment. TA Associates acquired a minority stake in Creditex in 2005, which valued the company at approximately USD 150 million. Earlier this month IntercontinentalExchange, the US electronic commodities exchange, agreed to acquire Creditex for USD 625 million in cash and shares.
Dr. Stephan Schäli, Head of Private Alternative Investment Strategies at Princess's investment advisor Partners Group, comments: "This transaction again demonstrates that the portfolio of Princess is well diversified by industrial sector, and that private equity firms are able to realize investments even in more difficult public market environments."
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 24 billion assets under management in private equity, private debt, private real estate, listed alternative strategies, 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.
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