Princess publishes December NAV

News Release

Guernsey, 31 January 2022

Princess publishes December NAV

· Princess Private Equity Holding Limited's (Princess or the Company) net asset value decreased by 0.8% to EUR 15.26 per share

· Portfolio developments were positive (+0.3%) while currency movements were negative (-0.2%)

· Princess invested EUR 91.5 million and received distributions of EUR 49.8 million

In December, Princess invested EUR 91.5 million, of which EUR 24.4 million was invested in DiversiTech, the market-leading manufacturer and supplier of parts and accessories for heating, ventilation, and air conditioning ("HVAC") equipment in the US. The company serves over 6,000 customers through a broad product portfolio. As a majority owner, Partners Group will work closely with DiversiTech's management on a value creation plan, with initiatives including accelerating new product development, expanding through M&A, and bolstering internal manufacturing capabilities. 

EUR 12.7 million was invested in leading Swiss watchmaker Breitling. Partners Group acquired a significant minority stake in the company. Breitling benefits from attractive macro and sectoral growth trends, especially in Asia, where rising disposable incomes amongst the middle classes are increasing demand for premium products, including watches.

EUR 11.2 million was deployed in a follow-on investment in PCI Pharma Services ("PCI"), a leading global contract development and manufacturing organization ("CDMO"). The capital was used to fund PCI's acquisition of Lyophilization Services of New England ("LSNE"), a premier CDMO in the US. PCI has completed multiple tuck-in acquisitions under Partners Group's ownership.

Princess received distributions of EUR 49.8 million, of which EUR 48.8 million stemmed from Foncia, a European leader in residential property management services. Partners Group closed the sale of a 25% stake in Foncia to TA Associates, a global private equity firm. Partners Group acquired Foncia in 2016 and since then has accelerated the company's growth and market leadership position in France and internationally. As part of the transaction, Princess reduced its exposure to Foncia but re-invested EUR 40.8 million to participate in the future growth of the business.

The remaining distributions of EUR 1 million were received from the Company's legacy fund portfolio.

Princess will hold its quarterly investor conference on 22 February 2022 at 10:00 GMT / 11:00 CET. During the conference call, Partners Group, the Investment Manager to Princess, will give an update on the recent developments of the Princess portfolio based on unaudited figures as of 31 December 2021. Following the presentation there will be a Q&A session. Please find the dial-in details on the Company's webpage.

Further information is available in the monthly report, which can be accessed via: http://www.princess-privateequity.net/en/investor-relations/financial-reports/.

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 managed in its investment activities by Partners Group, a global private markets investment management firm with USD 127 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).

Contacts

Princess Private Equity Holding Limited:

[email protected]

www.princess-privateequity.net

Registered Number: 35241

LEI: 54930038LU8RDPFFVJ57

Investor relations contact

Email: [email protected]

Media relations contact

Jenny Blinch

Phone: +44 207 575 2571

Email: [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 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.