P R I N C E S S P R I V A T E E Q U I T Y H O L D I N G L I M I T E D
M o n t h l y r e p o r t a s o f 3 1 O c t o b e r 2 0 2 1
NAV increases by 0.8% in October
- Princess Private Equity Holding Limited's (Princess or the Company) net asset value increased by 0.8% to EUR 15.77 per share
- Portfolio developments were positive (+1.1%) while currency move- ments were flat
- Princess invested EUR 71.6 million and received distributions of EUR 19.8 million
In October, Princess invested EUR 71.6 million, of which EUR 9.4 million was invested in BluSky Restoration Contractors ("BluSky"), a leading US provider of restoration services for commercial, industrial, healthcare, and multifamily real estate. BluSky has more than 900 employees serving 5,000- plus customers across the country. BluSky provides essential services for customers that experience water, fire, wind, environmental damages, or biological contamination at their buildings. Key value creation initiatives will include branch expansion into new markets, growing national accounts, expanding service capabilities, partnering with customers on ESG and work- place safety initiatives, and pursuing acquisitions.
Following an active period for realizations, EUR 60 million was invested in senior loans for liquidity management purposes. Partners Group's thematic sourcing approach continues to generate a broad near-term pipeline of investment opportunities to redeploy liquidity into.
Princess received distributions of EUR 19.8 million during the month, of which EUR 16.3 million stemmed from the sale of Straive, a leading global provider of technology-driven content and data solutions. Partners Group acquired a majority stake in Straive, then known as SPi Global, in August 2017, on behalf of its clients. Under Partners Group's ownership, Straive was transformed from a provider of primarily content services into a technology -driven content, data, and EdTech solutions company. Straive's organic growth was supplemented with three strategic bolt-on acquisitions. Other major initiatives included the development of proprietary technology and software products, as well as the deepening of strategic customer relation- ships.
EUR 2.7 million was received from Trimco, a leading global supplier of brand identity products for international fashion and sports brands, which paid a dividend to shareholders. The remaining balance of EUR 0.8 million was received from Princess' mature legacy fund portfolio.
Monthly NAV performance (total return)
Key figures
In EUR | 30.09.2021 | 31.10.2021 |
NAV per share | 15.64 | 15.77 |
Share price | 13.65 | 13.70 |
Discount to NAV | -12.7% | -13.1% |
Portfolio (in million) | 951.33 | 1'020.31 |
Net current assets (in million) | 130.10 | 70.23 |
Net asset value (in million) | 1'081.43 | 1'090.54 |
Unfunded commitments (in million) | 121.04 | 123.73 |
Undrawn credit facility (in million) | 80.00 | 80.00 |
Dividend LTM | 0.625 | 0.625 |
Dividend yield | 4.6% | 4.6% |
Key figures in GBP
In GBP | 30.09.2021 | 31.10.2021 |
NAV per share | 13.45 | 13.32 |
Share price | 1'160.00 | 1'177.50 |
NAV performance since inception (total return)
400 | 50% |
300 | 25% |
200 | |
100 | 0% |
0 | -25% |
01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 |
- Princess ■ MSCI World TR ■ Performance (RHS)
Total return in EUR (%)
YTD | 1 year | 3 years | 5 years | |
Princess NAV | 20.8 | 28.3 | 58.1 | 95.7 |
Princess share price | 16.6 | 42.5 | 56.1 | 108.5 |
MSCI World TR | 26.3 | 41.3 | 61.7 | 94.2 |
Largest ten direct investments
% of NAV | |||||
1. | KinderCare Education | NAM | Consumer | 4.6 | |
discretionary | |||||
2. | Foncia | WEU | Financials | 4.5 | |
3. | Ammega (Megadyne - Ammeraal Beltech) | WEU | Industrials | 3.7 | |
4. | SRS Distribution, Inc. | NAM | Materials | 3.3 | |
5. | Techem Metering GmbH | WEU | Industrials | 3.2 | |
6. | Vishal Mega Mart | APC | Consumer | 3.1 | |
discretionary | |||||
7. | Fermaca | ROW | Energy | 3.0 | |
8. | PCI Pharma Services | NAM | Healthcare | 2.4 | |
9. | Civica | WEU | Information | 2.3 | |
technology | |||||
10. | Form Technologies | NAM | Industrials | 2.2 | |
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | |
2016 | -1.1% | 0.1% | 1.2% | 2.0% | 2.1% | 1.3% | -0.0% | 2.1% | 1.8% | 0.3% | 0.6% | 1.8% | 12.9% |
2017 | 1.0% | 2.1% | 2.7% | 1.1% | -0.0% | 1.6% | -0.4% | -0.2% | 1.8% | 0.4% | -0.5% | 1.1% | 11.2% |
2018 | 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% |
2019 | 0.7% | 1.8% | 3.0% | 0.6% | 0.8% | 2.3% | 0.4% | -0.2% | 4.2% | -0.4% | 0.5% | 5.7% | 21.1% |
2020 | 0.2% | -1.0% | -14.1% | 5.6% | 3.0% | 2.9% | 2.3% | 3.1% | 3.8% | -0.8% | 3.1% | 3.1% | 10.0% |
2021 | 0.1% | 0.9% | 7.3% | 1.5% | 1.2% | 4.8% | 0.6% | 1.1% | 0.9% | 0.8% | 20.8% |
P R I N C E S S P R I V A T E E Q U I T Y H O L D I N G L I M I T E D
M o n t h l y r e p o r t a s o f 3 1 O c t o b e r 2 0 2 1
Princess Private Equity Holding Limited (Princess or the Company) is an investment 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 activities by Partners Group, a global private markets investment management firm with USD 119 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure.
Information
For further information please visit:
www.princess-privateequity.net
Key facts
Stock exchange | London |
Reuters Euro Quote | PEY.L |
Reuters Sterling Quote | PEYS.L |
Bloomberg Euro Quote | PEY LN |
Bloomberg Sterling Quote | PEYS LN |
ISIN (Euro and Sterling Quote) | GG00B28C2R28 |
Sedol Euro Quote | B28C2R2 |
Sedol Sterling Quote | BF012D4 |
Product life start date | 12.05.1999 |
Shares outstanding | 69'151'168 |
Investor Relations
Portfolio composition
Phone: +44 (0) 1481 711 690
Fax: +44 (0) 1481 730 947 | Investments by regional focus | ||||
princess@partnersgroup.com | |||||
A | North America | 50% | |||
Registered Office | D | B | Europe | 35% | |
C | Asia-Pacific | 8% | |||
C | |||||
Princess Private Equity Holding Limited | D | Rest of World | 7% | ||
Tudor House | |||||
P.O. Box 477 | A | ||||
Guernsey, GY1 6BD | B | ||||
Investments by financing category | |||||
A | Buyout Small/Mid-cap | 58% | |||
D | B | Special situations | 20% | ||
C | C | Buyout Large/Mega-cap | 18% | ||
D | Venture capital | 4% | |||
A | |||||
B | |||||
Investments by transaction type | |||||
A | Direct | 95% | |||
B | B | Primary | 5% |
A
Key figures in GBP EUR NAV converted to GBP at month-end GBP/EUR exchange rate from Bloomberg. NAV performance since inception (total return) Indexed to 100. Since inception of Princess Private Equity Holding Limited. Princess: based on monthly total return valuations. MSCI World TR: Bloomberg NDDUWI Index in EUR. Largest ten direct investments Based on net asset value. Portfolio composition Based on total value of investments.
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 25 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2021 06:39:05 UTC.