PRINCESS PRIVATE EQUITY HOLDING LIMITED 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 2
Princess publishes October NAV
- Princess Private Equity Holding Limited's ("Princess" or the "Com- pany") net asset value decreased by 1.3% to EUR 14.08 per share
- Currency movements were negative (-2.2%) and portfolio revaluations were positive (+1.2%)
- Princess received distributions of EUR 39.8 million
In line with the Company's announcement on 22 November 2022, Princess has paused material investments in the short-term, to strengthen its liquidity position and enable cautious investment in the future.
Key figures
In EUR | 30.09.2022 | 31.10.2022 |
NAV per share | 14.27 | 14.08 |
Share price | 10.70 | 9.55 |
Discount to NAV | -25.0% | -32.2% |
Portfolio (in million) | 1'082.33 | 1'052.44 |
Net current assets (in million) | -95.63 | -78.66 |
Net asset value (in million) | 986.70 | 973.77 |
Unfunded commitments (in million) | 103.25 | 103.01 |
Undrawn credit facility (in million) | 9.31 | 14.81 |
Dividend LTM | 0.72 | 0.72 |
Dividend yield | 6.7% | 7.5% |
Princess received distributions of EUR 39.8 million during the month, of which EUR 36.1 million stemmed from partial redemption from senior loans, for liquidity management purposes. EUR 2.4 million was received from KinderCare Education, the largest for-profit provider of early childhood education and care services in the US. The remaining balance of EUR 1.3 million was predominantly received from the mature legacy fund portfolio and debt investments.
Key figures in GBP
In GBP | 30.09.2022 | 31.10.2022 |
NAV per share | 12.52 | 12.09 |
Share price | 9.42 | 8.42 |
NAV performance (total return)
400 | 50% |
300 | 25% |
200 | |
100 | 0% |
0 | -25% |
02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 |
■ Princess ■ MSCI World TR ■ Performance (RHS) | |||||||||||||||||
Total return in EUR (%) | |||||||||||||||||
YTD | 1 year | 3 years | 5 years | ||||||||||||||
Princess NAV | -5.3 | -6.4 | 32.1 | 61.8 | |||||||||||||
Princess share price | -32.0 | -24.6 | 9.7 | 20.2 | |||||||||||||
MSCI World TR | -8.0 | -4.5 | 34.8 | 60.5 | |||||||||||||
Largest ten direct investments | |||||||||||||||||
% of NAV | |||||||||||||||||
1. | SRS Distribution, Inc. | NAM | Industrials | 5.5 | |||||||||||||
2. | Emeria | WEU | Real Estate | 4.5 | |||||||||||||
3. | KinderCare Education | NAM | Consumer | 4.4 | |||||||||||||
discretionary | |||||||||||||||||
4. | PCI Pharma Services | NAM | Healthcare | 4.4 | |||||||||||||
5. | Vishal Mega Mart | APC | Consumer | 3.8 | |||||||||||||
discretionary | |||||||||||||||||
6. | United States Infrastructure Corporation | NAM | Industrials | 3.8 | |||||||||||||
7. | Ammega (Megadyne - Ammeraal Beltech) | WEU | Industrials | 3.7 | |||||||||||||
8. | Techem Metering GmbH | WEU | Industrials | 3.5 | |||||||||||||
9. | Fermaca | ROW | Energy | 3.3 | |||||||||||||
10. | EyeCare Partners | NAM | Healthcare | 3.1 | |||||||||||||
Monthly NAV performance (total return) | |||||||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | |||||
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% | -0.4% | -0.8% | 19.4% | ||||
2022 | -0.8% | -0.8% | 1.7% | -0.6% | -1.3% | -5.8% | 2.3% | 0.3% | 1.0% | -1.3% | -5.3% |
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 2
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 131 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
Investor Relations
Phone: +44 (0) 1481 711 690
Fax: +44 (0) 1481 730 947 princess@partnersgroup.com
Registered Office
Princess Private Equity Holding Limited
Tudor House
P.O. Box 477
Guernsey, GY1 6BD
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 |
Portfolio composition
Investments by regional focus | |||||
A | North America | 48% | |||
C | D | B | Europe | 39% | |
C | Asia-Pacific | 9% | |||
D | Rest of World | 4% |
A
B
Investments by financing category | |||||
A | Buyout Small/Mid-cap | 55% | |||
C | D | B | Buyout Large/Mega-cap | 34% | |
C | Special situations | 8% | |||
D | Venture capital | 3% | |||
B | A | ||||
Investments by transaction type | ||||
A | Direct | 97% | ||
B | B | Funds | 3% |
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.
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 30 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2022 09:23:22 UTC.
