11th Aug 2008 12:21
News Release
Guernsey, 11 August 2008
Princess NAV up 0.3% in July
The net asset value of Princess showed a pleasing performance of +0.3% in July, closing the month at EUR 9.22 per share. Despite volatile markets, partnerships overall reported increases in value for their underlying portfolio companies, once again underlining the value adding potential private equity demonstrates even in periods of elevated uncertainty and tight lending standards. In total, revaluations made by general partners and IFRS adjustments, applied to reflect fair market value had a positive effect of 0.2% on the product NAV. A performance contributor of similar weight was the stabilizing US dollar, which slightly appreciated in the course of the month and thus contributed another 0.2% to Princess' net asset value. The impact of the listed private equity portion in the portfolio was positive in July, albeit small. Operating and other income components represent the residual net movement in the NAV.
Dr. Stephan Schäli, Head Private Alternative Investment Strategies at Princess' investment advisor Partners Group, comments: "We are delighted to see that the majority of the Princess partnerships during July reported positive performances in their portfolios, holding up well in a continuously uncertain market environment. This again proves that even with financing becoming a precious commodity, private equity firms can generate good returns, pursuing value creation through operational enhancements and the improvement of a company's capital efficiency. Given that Princess sticks to this premise when choosing new investments and considering the continuing high quality of the portfolio, we maintain our optimistic stance on the development of the Company's net asset value."
About Princess
Princess is an investment holding company founded in 1999 and domiciled in Guernsey that invests in private equity and private debt investments. The Company is advised in its investment activities by Partners Group AG, a global alternative asset management firm listed on the SWX Swiss Exchange (ticker symbol: PGHN) with over CHF 25 billion assets under management in private equity, private debt, private real estate, listed alternative investments, hedge funds and alternative beta strategies. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Frankfurt Stock Exchange (ticker symbol: PEY1) and on the London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net
Contacts
Princess Private Equity Holding Limited:
Ken Ball
General Manager
Phone: +44 1481 730 946
princess@princess-privateequity.net
www.princess-privateequity.net
Media enquiries:
Partners Group AG
Tamara Krebs
Communications
Tel.: +41 41 768 85 26
www.partnersgroup.net
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 Private Equity Holding Limited. 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.
Approved by Partners Group (UK) Ltd., authorised and regulated by the Financial Services Authority in the United Kingdom.
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