Overview
Princess Private Equity is an investment holding company domiciled in Guernsey that invests in private market investments. Investments include primary and secondary fund investments, direct investments and listed private equity. Princess aims to provide shareholders with both long-term capital growth and an attractive dividend yield. The portfolio has traditionally encompassed a broad sectoral exposure with large geographic exposures to Europe and North America. Buyouts transactions have traditionally dominated the portfolio, with a strong emphasis on small/mid-caps, whilst smaller allocations are made to special situations, mezzanine, venture and growth financing transactions.
Early in September 2017, the company introduced a sterling line of stock, PEYS, that is indistinguishable from the Euro line of stock except in regards to the currency it trades in. NB the PEYS portfolio is not hedged back into sterling.
you can access the company’s website here
Fundamentals
Price
Research History
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08 May 2019 4 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
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18 Jan 2019 1 min read
QuotedData’s investment companies roundup – January 2019
QuotedData’s investment companies roundup – January 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2018. Kindly sponsored by Baillie Gifford. Extract from money raised and returned in December The only new issue […]
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25 Apr 2018 2 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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07 Feb 2018 2 min read
QuotedData investment companies roundup – February 2018
QuotedData investment companies roundup – February 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2018. Kindly sponsored by Baillie Gifford. The oil price was up again over the month and this helped propel […]
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10 Apr 2017 1 min read
QuotedData’s round up of views on the global economy – April 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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10 May 2016 1 min read
Standard Life European Private Equity – Sitting in a sweet spot
In recent years Standard Life European Private Equity Trust has been one of the best performing private equity funds of funds listed in London. SL Capital, managers of the fund, believe it its discount of 26.9% is too wide for the quality of its NAV and that, as a European (mid-market) specialist, it sits in […]
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27 Apr 2015 1 min read
The importance of income – where to find it?
Life used to be simpler. If you had a bit of spare cash or you wanted to save up for something you’d just stick some money in a bank or building society account. If you had a nest egg and wanted to invest it in something safe and live off the income, you’d maybe buy […]
News
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23 Dec 2020 2 min read
QuotedData’s morning briefing 23 December 2020
In QuotedData’s morning briefing 23 December 2020 – International Public Partnerships (INPP) made an additional €10m investment and a contingent commitment of a further €14m to the 100% indirectly owned special purpose company that owns the Northern Diabolo Rail Link (Diabolo). Diabolo is a rail infrastructure investment which integrates Brussels airport with Belgium’s national rail […]
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25 Aug 2020 1 min read
QuotedData’s morning briefing 25 August 2020
In QuotedData’s morning briefing 25 August 2020: Princess Private Equity says that its manager, Partners Group, has agreed the sale of its majority equity stake in PCI Pharma Services to private equity firm Kohlberg & Company and Abu Dhabi-based sovereign investor Mubadala Investment Company. Princess, alongside other Partners Group-managed funds, will retain a meaningful minority equity […]
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21 Aug 2020 2 min read
QuotedData’s weekly news show 21 August 2020
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered: Princess Private Equity’s dividend cut, Hg Capital’s recent deal-making (including the largest ever software buyout) and comments from BMO Private Equity’s recent results. We also have a comment on Secured Income […]
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17 Aug 2020 2 min read
Princess Private Equity reflects on H1 as dividend reduced to support portfolio companies
Princess Private Equity reflects on H1 as dividend reduced to support portfolio companies – Princess Private Equity (PEY) has reported interim results to 30 June 2020, with highlights that include: In the first half of 2020, PEY reported a NAV total return of (4.6%); The NAV performance was mainly attributable to movements in the valuation […]
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28 Jul 2020 1 min read
Cheaper Princess
Cheaper Princess – Princess Private Equity has agreed a fee cut with its manager. With effect from 1 July 2020, while the headline rate remains the same (0.375% per quarter), the fee will be based on assets excluding unfunded commitments (money that Princess has promised to invest in private equity funds or companies but hasn’t […]
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11 Jun 2020 1 min read
QuotedData’s morning briefing 11 June 2020
In QuotedData’s morning briefing 11 June 2020: Princess Private Equity confirms that the sale of its stake in European retailer Action has been completed for initial proceeds of €80.9m – this money has been received. Princess is also due deferred consideration of up to a further €9.1m, by no later than June 2023. There is no […]
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01 May 2020 2 min read
QuotedData’s morning briefing 1 May 2020
So far, it’s been a very quiet day for news. Princess Private Equity has provided a covid-19 update. The key takeaway is that, given current uncertainty, it is cutting its dividend by half for FY2020 to €0.29 per share (FY2019: €0.58 per share). Intu has appointed David Hargrave, as “chief restructuring officer”. He will also […]
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18 Mar 2020 2 min read
Princess Private Equity extends term and size of senior revolving credit facility
Princess Private Equity (PEY) has entered into an extension of the term and increase in the size of its senior revolving credit facility with Lloyds Bank. The previous facility of EUR 50m was due to expire on 14 December 2020. The facility will be increased to EUR 80m and the term extended to 13 December 2024. […]
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15 Nov 2019 2 min read
QuotedData’s other news 15 November 2019
In QuotedData’s other news 15 November 2019 Princess Private equity has highlighted a press release from Partners Group – Partners Group has agreed to sell its minority equity stake in Action, Europe’s leading non-food discount retailer, on behalf of its clients. The stake will be acquired by Hellman & Friedman, a leading private equity investment firm. Partners […]
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08 Oct 2019 1 min read
QuotedData’s other news 8 October 2019
In QuotedData’s other news 8 October 2019 – Yesterday evening, Ruffer announced that effective 31 October 2019, Steve Russell is stepping down as one of the fund managers. Hamish Baillie and Duncan MacInnes will continue to manage the portfolio. Steve has been with the company since 2004 and will remain part of the the wider investment process […]
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16 Aug 2019 2 min read
Valuation developments drive NAV growth for Princess Private Equity over H1
Valuation developments drive NAV growth for Princess Private Equity over H1 – Princess Private Equity (PEY) has released high-level highlights from its first-half period to 30 June 2019. Key items include: PEY reported a NAV total return of 9.6%, closing the period at EUR11.64 per share; Valuation developments (+11.6% YTD) were the key driver of NAV […]
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1 min read
QuotedData’s other news 16 August 2019
In QuotedData’s other news 16 August 2019: Worldwide Healthcare Trust (WWH) has announced the appointment of Dr Bandhana (Bina) Rawal as an independent non-executive director, with effect from 1 November 2019. Dr Rawal, a physician with 25 years’ experience in life sciences research and development, has held senior executive roles in drug development and scientific evaluation in […]
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19 Mar 2019 2 min read
Princess Private Equity direct investments drive NAV growth in 2018
Princess Private Equity direct investments drive NAV growth in 2018 – While Princess Private Equity (PEY)’s NAV in the year to December 31, 2018 was up by 6.8% percent on a total return basis, its shares were down 16% following a period of severe volatility in public markets in December, as investors went into risk-off […]
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19 Mar 2018 3 min read
Princess sees remarkable contraction in its discount over 2017
Princess sees remarkable contraction in its discount over 2017 – In 2017, Princess Private Equity’s net asset value ended up at EUR10.73 per share, an increase of 5.6% for the year. Princess paid dividends totalling EUR 0.56 and this contributed to an NAV total return of 11.2%. The chairman says that the performance of underlying portfolio companies […]
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23 Jan 2018 2 min read
Princess Private Equity to receive US$24m from sale of Trimco International
Princess Private Equity has announced that Partners Group, the investment advisor to Princess Private Equity Holding (Princess), has agreed the sale of Trimco International Holdings Limited (Trimco), to funds advised by Affinity Equity Partners. The sale is for a total consideration of USD$520m, generating a 3.4x return on the original investment for Partners Group’s programs. […]
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19 Jan 2018 1 min read
Investment Trust Insider trusts that didn’t escape me last year
Investment Trust Insider – trusts that didn’t escape me last year. As 2018 gets underway, I thought that it might be worth revisiting some of the funds that I wrote about in 2017. At the start of the year I hailed the changes that Standard Life Private Equity (SLPE) was implementing to broaden its investment proposition and noted the increasing […]
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15 Dec 2017 6 min read
Henderson Alternative Strategies benefits from marked discount narrowing
Henderson Alternative Strategies Trust (HAST) has announced its annual results for the year ended 30 September 2017. During the period, HAST provided an NAV total return of 10.8% and, reflecting a marked narrowing of the discount, a share price total return of 19.8%. The share price performance is superior to that of the company’s benchmark, […]
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10 Nov 2017 1 min read
Investment Trust Insider on Princess Private Equity
Investment Trust Insider on Princess Private Equity It is 10 years since Princess Private Equity (PEY) listed in London. This private equity fund has had an interesting history, largely by virtue of its willingness to adapt to make itself more appealing. Prior to listing in London, Princess had a listing in Frankfurt but it wanted […]
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31 Jul 2017 4 min read
Better year for Growth pool in F&C Managed Portfolio
Better year for Growth pool in F&C Managed Portfolio – F&C Managed Portfolio has published results for the year ended 31 May 2017. The NAV total return (i.e. adding dividends paid to capital performance) was 24.5% for the Income shares and 26.4% for the Growth shares. This compares with the 24.5% total return for the All-Share […]
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17 Mar 2017 3 min read
Princess Private Equity NAV growth driven by ‘positive valuation developments’
Princess Private Equity (Princess) has published its annual report for the year ended 31 December 2016. During the year, Princess’ audited net asset value (NAV) increased to EUR 10.16 per share, which it says represents an increase of 12.9% on a total return basis, adjusted for the total dividend of EUR 0.54 per share. This […]
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15 Aug 2016 2 min read
Direct investments boost Princess Private Equity
The net asset value of Princess Private Equity Holding Limited increased by 5.8% over the first half of 2016 to end the reporting period at EUR 9.78 per share (adjusted for the first interim dividend of EUR 0.27 per share distributed in June). As of the end of the reporting period, the 50 largest direct portfolio […]
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09 Mar 2016 1 min read
Princess Private Equity returns 17% in 2015
Princess Private Equity’s results for 2015 show the fund delivering a return on net assets of 17.5%. The dividend was €0.54 (a 5.7% yield on NAV at 31 December 2015 / 6.9% yield on the shares). The Board say they plan to continue to pay a dividend of 5% to 8% per annum of the NAV. The […]
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21 Dec 2015 5 min read
Henderson Alternative Strategies sees performance pick up in second half
Henderson Alternative Strategies Trust has announced its annual results for the year ended 30 September 2015. During the period, the Company delivered a NAV total return of -5.0% compared with a 0.8% rise in its FTSE World Total Return Index global equity benchmark. However, the board say that they are very encouraged to see that […]
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23 Sep 2015 2 min read
Cayenne Trust CULS conversion facilitates a speedier return of capital
The Cayenne Trust has released its interim results for the six-months ended 31 July 2015 during which its NAV per share increased by 1.6% (4.2% on a fully diluted basis). In comparison, the FTSE All Share Equity Investment Instruments Index increased by 3.39% during the period. A dividend of 3.8p was paid on 21st August. […]
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16 Jul 2015 2 min read
Princess sells Universal Services of America
Princess Private Equity has announced that Partners Group, its investment advisor, has sold its controlling interest in US security services provider Universal Services of America (“Universal”). The transaction is expected to close in the coming weeks. They say the exit valuation represents an uplift to Universal’s carrying value as at 31 May 2015 and will be reflected […]
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13 Aug 2014 1 min read
Half of Princess Private Equity portfolio now in direct investments
PEY : Half of Princess Private Equity portfolio now in direct investments Princess Private equity has published its interim results for the period that ended 30 June 2014. They say that more than 50% of the portfolio is now invested in direct private equity investments (in line with the objective they adopted some time ago). […]
