NAV up by 1.3% in December

News Release

Guernsey, 29 January 2015

NAV increased by 1.3% in December - bringing year-to-date performance to +13.2%

è Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") up by 1.3% to EUR 8.58 per share

è Overall portfolio developments (+1.3%) and currency movements (+0.5%) were positive for the month

è Princess deployed EUR 2.7 million to new investments and received distributions of EUR 13.2 million

During recent months, Partners Group has continued to work closely with its portfolio companies in executing value creation initiatives. Several portfolio companies have already achieved tangible results, with the direct investments in MultiPlan, Fermaca, Action and Strategic Partners amongst those companies which were written-up.

In December, Princess completed a new direct investment in Varsity Brands, a leading manufacturer, marketer and distributor of a range of sports and affinity products to K-12 and college students, primarily in the US. The investment amounts to EUR 5.4 million and was made through its commitment to Partners Group Direct Investments 2012, partially funded through earlier capital calls. The company is the market leader for the majority of its products, commanding a market share that is significantly larger than its closest competitor. Its combined sales amount to over USD 1.2 billion and Varsity Brands employs the largest "K-through-College" sales force, with more than 1'000 sales professionals dedicated to providing products and services to the school and institutional markets. Going forward, Partners Group intends to assist the company in its international expansion and in the execution of add-on acquisitions.

Also in December, Princess made an add-on investment (EUR 0.4 million) in portfolio company Fermaca to fund a natural gas pipeline. The project comprises the construction and operation of a pipeline that extends more than 400km and is expected to commence operation in the first quarter of 2017. All of Fermaca's pipelines are operated under "take or pay" contracts and therefore are not directly affected by commodity prices. 

Distributions over the reporting period came predominately from Princess' legacy third party fund portfolio (EUR 12.2 million). The largest contributor from Princess' direct portfolio was Education Publisher 2 (EUR 0.4 million), an international provider of high-quality educational materials, which made a dividend payment to its investors. The dividend was funded from the cash balances of its subsidiary, arising from the company's focus on cost savings and an operational shift to asset-light digital products.

Princess will hold an investor conference call today on 29 January 2015 at 14:30 GMT to update interested parties on the recent developments of the Princess portfolio. The information announced will refer to unaudited figures as of 31 December 2014.

The results presentation is now available at http://www.princess-privateequity.net/en/investor_relations/web_cast_live-events.php?ml

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:

[email protected]

www.princess-privateequity.net

Registered Number: 35241

Investor relations contact

George Crowe

Phone: +44 (0)20 7575 2771

E-mail: [email protected]

Media relations contact

Partners Group AG

Jenny Blinch

Phone: +41 41 784 65 26

E-mail: [email protected]

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.