Princess Private Equity Holding Ltd on Tuesday said its net asset value increased during the first-quarter of 2023, driven by an investment in a childhood education and care services provider.

The investor, which backs private companies said its net asset value per share amounted to €14.83 at the end of March, up 0.3% from €14.79 at the end of February, and rising 1.4% from the €14.62

it reported for the end of 2022.

‘The main contributor to the positive performance was KinderCare, the largest for-profit provider of early childhood education and care services in the US, whose valuation increased over the first quarter of 2023,’ Princess Private said.

KinderCare posted double-digit growth in revenue and earnings before interest, tax, depreciation, and amortisation for the 12 months ended in January.

Shares in Princess Private rose 1.7% to €9.30 each in London on Tuesday morning.

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