NAV increases by 0.4% in February
● Princess Private Equity Holding Limited's ("Princess" or the "Com-pany") net asset value increased by 0.4% to EUR 14.79 per share
● Portfolio revaluations were positive (+0.7%) and currency movements were positive (+0.1%)
● Princess received distributions of EUR 5.8 million and invested EUR 3.2 million
In February, Princess received distributions of EUR 5.8 million, of which EUR 4.2 million was received from Apex International Corporation, a global logistics company. The remaining balance of EUR 1.6 million was predomin-antly received from Princess' direct private equity investments.
Princess invested a total of EUR 3.2 million, of which EUR 1.9 million was invested in Rovensa, a leading provider of specialty crop nutrition, biocontrol, and crop protection products, which completed its acquisition of Cosmocel, a developer, manufacturer, and distributor of specialty biostimulant solutions in North America. Cosmocel"s geographic footprint and product portfolio are highly complementary to Rovensa. This acquisition is anticipated to generate cross-selling synergies and establish Rovensa as the leading inde-pendent biosolutions company globally.
EUR 1.2 million was invested in Confluent Health ("Confluent"), a US-based healthcare company focused on physical and occupational therapy, which completed its acquisition of MOTION PT Group ("MOTION"), a physical therapy practice group in the US. With this acquisition, Confluent will add density to its existing geographic footprint. MOTION's unique business model, which has diversified revenue streams, is also a strong fit with Con-fluent's growth strategy.
FX hedging termination: Investors are reminded that the FX hedging con-tracts are unwinding on 31 March 2023. The major currency exposures are EUR: 45%, USD: 43% and Other: 12%. Please access theCompany's website for detailed information regarding the estimated currency exposure.
Key figures
In EUR
NAV per share Share price Discount to NAV Portfolio (in million)
Net current assets (in million) Net asset value (in million) Unfunded commitments (in million) Undrawn credit facility (in million) Dividend LTM
Dividend yield
31.01.2023
28.02.2023
14.72 14.79
9.02 9.64
-38.7% -34.8%
1'031.02 -13.05
1'045.98 -23.48
1'017.97 1'022.49
100.68 101.55
110.00 140.00
0.38 0.38
4.2% 3.9%
Key figures in GBP
In GBP
NAV per share Share price
31.01.2023
28.02.2023
12.99 12.95
8.03 8.54
NAV performance (total return)
400 300 200
100
0 -25% 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23
■ Princess ■ MSCI World TR ■ Performance (RHS)
Total return in EUR (%)
Princess NAV Princess share price MSCI World TR
50%
25%
0%
YTD 1.1 14.6 5.1
1 year 1.1 -24.6 -1.9
3 years
5 years
31.6 66.9
8.6 22.7
37.5 60.4
Largest ten direct investments
1. SRS Distribution, Inc.
2. PCI Pharma Services
3. Ammega (Megadyne - Ammeraal Beltech)
4. Emeria
5. KinderCare Education
6. Techem Metering GmbH
7. Vishal Mega Mart
8. Fermaca
9. DiversiTech
10. EyeCare Partners
% of NAV
NAM NAM WEU WEU
Industrials Healthcare Industrials Real Estate
5.8 5.7 4.5 4.3
NAM
Consumer discretionary
4.1
APC
Consumer discretionary
3.2
ROW NAM NAM
Energy Industrials Healthcare
3.0 2.7 2.7
Monthly NAV performance (total return)
2018
2019
2020
2021
2022
2023
0.7%
Jan
Feb
Mar
AprMay
Jun
Jul
Aug
Sep
OctNov
DecYear
0.2%
1.0%
0.7%
0.8%
0.2%
2.7%
1.1%
0.2%
2.1%
-0.6%
-0.2% -1.6% 6.8%
0.7%
0.2%
-1.0%
1.8%
-14.1%
3.0%
0.6%
5.6%
0.8%
3.0%
2.3%
2.9%
0.4%
2.3%
-0.2%
3.1%
4.2%
3.8%
-0.4%
-0.8%
0.5% 3.1%
5.7% 21.1% 3.1% 10.0%
0.1%
0.9%
7.3%
1.5%
1.2%
4.8%
0.6%
1.1%
0.9%
0.8%
-0.4% -0.8% 19.4%
-0.8%
-0.8%
1.7%
-0.6%
-1.3%
-5.8%
2.3%
0.3%
1.0%
-1.3%
0.5%
3.4% -1.6%
0.4%1.1%
Princess Private Equity Holding Limited (Princess or the Company) is an in-vestment holding company listed on the London Stock Exchange. The Company's investment objective is to provide shareholders with long-term capital growth and an attractive dividend yield by investing in a global portfolio of private companies. Princess is managed in its investment activ-ities by Partners Group, a global private markets investment management firm with USD 135 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure.
Key facts
Stock exchange Reuters Euro Quote Reuters Sterling Quote Bloomberg Euro Quote Bloomberg Sterling Quote ISIN (Euro and Sterling Quote) Sedol Euro Quote
Information
For further information please visit:www.princess-privateequity.net
Sedol Sterling Quote Product life start date Shares outstanding
London PEY.L PEYS.L PEY LN PEYS LN GG00B28C2R28 B28C2R2 BF012D4 12.05.1999 69'151'168
Investor Relations
Portfolio composition
Phone: +44 (0) 1481 711 690 Fax: +44 (0) 1481 730 947princess@partnersgroup.com
Investments by regional focus
A North America 47%
Registered Office
Princess Private Equity Holding Limited Tudor House
P.O. Box 477 Guernsey, GY1 6BD
B Europe 42%
C Asia-Pacific 7%
D Rest of World 4%
A
Investments by financing category
A Buyout Small/Mid-cap 56%
B
C
D
B Buyout Large/Mega-cap 35%
C Special situations 7%
D Venture capital 2%
A
Investments by transaction type
A Direct 98%
B
B Funds 2%
A
Key figures in GBP EUR NAV converted to GBP at month-end GBP/EUR exchange rate from Bloomberg. NAV performance (total return) Indexed to 100 at inception of Princess Private Equity Holding Limited, showing last twenty years. Princess:based on monthly total return valuations. MSCI World TR: Bloomberg NDDUWI Index in EUR. The inclusion of this index is used for comparison purposes only and should not be construed to mean that there will necessarily be a correlation between the fund/investment return and the index. The fund is not managed nor designed to track such index. Largest ten direct investments Based on net asset value. Portfolio composition Based on total value of investments.
Currency exposure (look-through on asset level) Based on NAV. Figures are subject to estimates and rounding. Net currency exposure as per reporting date, calculated looking through Partners Group programs.
This document is not intended to be an investment advertisement or sales instrument; it constitutes neither an offer nor an attempt to solicit offers for the product described herein. This report was prepared using financial information contained in the company's books and records as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This report describes past performance, which may not be indicative of future results. The company does not accept any liability for actions taken on the basis of the information provided. Please consult the constituent documents for a more complete description of the terms.
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Princess Private Equity Holding Limited published this content on 31 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2023 06:03:11 UTC.