Edison Investment Research - Princess Private Equity Holdings (PEYA) Princess Private Equity Holding - Waiting for a rebound in global PE deal activity

Report

Edison Investment Research

Pedro Fonseca

Princess Private Equity Holding - Waiting for a rebound in global PE deal activity

Princess Private Equity Holding (PEY) posted a 3.5% NAV TR in H123, bringing its 12-month return to c 10%. Its portfolio maintains strong last 12-month (LTM) revenue and EBITDA momentum of 17% and 15%, respectively, at end-June 2023 and some of its holdings also benefited from peer multiple expansion (eg KinderCare). PEY’s holding-level balance sheet remains solid, with cash and the undrawn part of its credit line covering all of its outstanding investment commitments. PEY reiterated its dividend policy of paying 5% of opening NAV, which implies a c 6.7% yield.

31/08/2023 1 EN

Underlying

Princess Private Equity Holdings

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GG00B28C2R28 Frankfurt Stock Exchange Guernsey

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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Princess Private Equity Holding - Waiting for a rebound in global PE deal activity

Edison issues report on Partners Group Private Equity (PEY/PEYS)

Partners Group Private Equity - Healthy realisations in H124

Private Equity: Stick or twist? Avoiding the ‘pig in the python'

Accsys Technologies - Upgrading guidance for the full year

Topps Tiles - Market outperformance again in FY24

Nabaltec - Resilience and margin expansion

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