Spice Private Equity AG

Net Asset Value • Feb 27, 2015

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RNS Number : 1228G

Princess Private Equity Holding Ltd

27 February 2015

News Release

Guernsey, 27 February 2015

New direct investment in Dynacast, January NAV increased by 2.6%

è Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") up by 2.6% to EUR 8.81 per share

è Overall portfolio developments (+1.1%) and currency movements (+1.9%) were positive for the month

è Princess deployed EUR 32.9 million to new investments and received distributions of EUR 10.3 million

Over the reporting period, Princess' mature legacy fund portfolio was the largest contributor to the favourable portfolio development.

In January, Princess acquired a EUR 21.0 million stake in Dynacast, a leading global manufacturer of precision engineered components. The company is headquartered in Charlotte, North Carolina, and has 23 manufacturing plants in 16 countries worldwide, which provide a diverse client base including blue-chip customers across the automotive, telecommunications, computing, consumer electronics, and healthcare industries with small, highly complex metal components. Partners Group acquired the majority of Dynacast from exiting financial investors and was joined in the acquisition by the company's management team, which rolled over significant equity stakes into the new transaction. Following the completion of the acquisition, Partners Group will work closely with Dynacast's management team to support the company in the next phase of its global growth plans.

Distributions over the reporting period came predominately from Princess' direct investment portfolio (EUR 5.9 million). The largest single contributor was Action (EUR 3.7 million), which distributed proceeds from a successful refinancing completed in December 2014. Including this payment, Princess has now received 1.8x of its initial investment cost. Furthermore, Action remains Princess' fifth largest direct investment and continues to perform well with strong revenue growth based on its ongoing store roll-out programme.

Net liquidity at month end stood at -1.5% of NAV, mainly reflecting investment activity during the month and short term liabilities arising from the company's currency hedging strategy. Princess maintains a healthy cash position with cash and cash equivalents of 7.7% of NAV and a further 9.8% in deferred receivables due to be received in the second half of the year. 

Further information is available in the monthly report which can be accessed via:

http://www.princess-privateequity.net/financialreports.

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 over EUR 37 billion (over USD 40 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 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

George Crowe

Phone: +44 (0)20 7575 2771

E-mail: george.crowe@partnersgroup.com

Media relations contact

Partners Group AG

Jenny Blinch

Phone: +41 41 784 65 26

E-mail: Jenny.Blinch@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. 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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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