Company Announcements

RNS Number : 8985V
Princess Private Equity Holding Ltd
12 August 2022

News Release



Guernsey, 12 August 2022



Princess publishes Half-Year Report 2022


Princess Private Equity Holding Limited ("Princess" or the "Company") today published its Half-Year Report for 2022. The key items were:


·      Net asset value ("NAV") decreased to EUR 13.76 per share, representing a total return of -7.5% including the first interim dividend.

·      Share price total return over the same period was -13.5%.

·      The first interim dividend of EUR 0.38 per share was paid to shareholders in June, in line with the objective to distribute 5% of opening NAV for each financial year, via semi-annual payments in June and December.

·      Portfolio developments (-6.1%) were the main driver for the NAV decline during the first half of the year, while the impact of currency movements was positive (+0.4%). Among the largest positive contributors to performance during the reporting period were Princess' investments in AlliedUniversal and KinderCare.

·      Princess received distributions amounting to EUR 100.9 million during the first six months of 2022. EUR 58.9 million stemmed from a partial redemption from its investment in senior loans. In line with previous guidance, the capital will be redeployed in direct private equity investments. An amount of EUR 38.2 million was received from direct investments, including proceeds from the sale of Voyage Care. The remaining EUR 3.8 million was received from the Company's mature legacy fund portfolio.

·      Investment activity totalled EUR 62.7 million including new investments in Pharmathen, Forefront Dermatology, Precisely and Climeworks.


Richard Battey, Chairman comments: "Global capital market volatility dominated the first six months of 2022, with valuation developments being the main driver for the NAV decline. Despite the negative performance, Princess has compared favorably to public markets (e.g. MSCI World -13.5%) for a few key reasons. Firstly, the Company has a mature portfolio diversified across several vintage years, which tends to favor defensive assets in sectors with lower inherent cyclicality. Secondly, Princess' portfolio assets continued to have strong fundamental performance in H1. Thirdly, Partners Group's historically disciplined approach to investment underwriting and portfolio construction has helped prepare the portfolio for the increased volatility and macroeconomic uncertainty we currently see. Although economic challenges are unlikely to dissipate in the short term, I am confident that Princess is prepared to navigate the potentially uncertain times ahead."


A detailed analysis and commentary on the developments of Princess during H1 2022 is presented in the Half-Year Report published today, which can be accessed via:

A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at:



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 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. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).



Princess Private Equity Holding Limited:


Registered Number: 35241


LEI: 54930038LU8RDPFFVJ57


Investor relations contact

Phone: +44 207 575 2771



Media relations contact

Jenny Blinch

Phone: +44 207 575 2571



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 are 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.

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