NAV increases by 0.3% in AugustSource: RNS
Guernsey, 30 September 2022
NAV increases by 0.3% in August
· Princess Private Equity Holding Limited's ("Princess" or the "Company") net asset value increased by 0.3% to EUR 14.13 per share, total NAV at EUR 976.9 million
· Portfolio developments were positive (+0.7%) and currency movements were negative (-0.5%)
· Princess invested EUR 17.7 million and received distributions of EUR 29.0 million
In August, Princess invested a total of EUR 17.7 million, of which EUR 9.5 million was invested in VelocityEHS, a leading environmental, health, and safety ("EHS") and environmental, social and governance ("ESG") software platform based in the US. Partners Group acquired a significant minority stake in the company. Founded in 1996 and headquartered in Chicago, VelocityEHS is a Software-as-a-Service ("SaaS") platform offering products that help customers comply with a wide range of EHS laws and regulations, manage and reduce risk, and improve operational efficiency. VelocityEHS offers EHS software solutions that help customers across various use cases, including ESG management, Environmental Compliance, Safety, Ergonomics, Control of Work, Operational Risk, and Health. The company has over 18,000 customers, with a focus on serving the manufacturing, food & beverage, pharmaceuticals, and chemicals sectors. The EHS/ESG software market is benefitting from strong thematic trends such as growing pressure on companies to decarbonize and disclose environmental sustainability information, as well as an increasingly complex regulatory environment.
EUR 2.0 million was deployed as additional capital to Emeria (formerly known as Foncia), largely to support its acquisition of FirstPort, a UK residential property services company. FirstPort manages approximately 315,000 individual residential properties across 5,600 developments, up from 196,000 homes across 3,900 developments in 2019. Looking forward, FirstPort's existing management team remains focused on continuing to deliver exceptional customer service and further progressing the expansion of the company's service offering.
Princess received distributions of EUR 29.0 million during the month, of which EUR 25.4 million stemmed from an additional redemption from its investment in senior loans for liquidity management purposes. Following this transaction, Princess holds at the end of the month EUR 49.5 million of its investment portfolio in senior loans. EUR 3.2 million was received from the Company's direct investments. The remaining balance of EUR 0.4 million was received from Princess' mature legacy fund portfolio and private debt investments.
Further information is available in the monthly report, which can be accessed via: http://www.princess-privateequity.net/en/investor-relations/financial-reports/.
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
Investor relations contact
Phone: +44 20 7575 2695
Media relations contact
Phone: +44 207 575 2571
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