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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). The net asset value at the end of June was €8.20 – a 4.7% return if you include the €0.27 distribution made during the period.
Eight new direct investments were made in the period (costing €70.5m), the latest of which was Permotio International Learning – a holding company used to get access to a leading international schools group. The funding for the direct investments came from distributions from fund investments (€32m) and sales of funds in the secondary market (€51.4m).