NB Private Equity Partners Limited January 2017 Monthly Net Asset Value

 
TIDMNBPE 
 
 
   THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR 
DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE 
UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS 
 
   NB Private Equity Partners Announces Monthly NAV Update for January 2017 
 
 
   20 February 2017 
 
   NB Private Equity Partners Limited ("NBPE" or the "Company"), a 
closed-end private equity investment company, today announced an updated 
Net Asset Value ("NAV") for the month ended 31 January 2017. 
 
   Key Highlights 
 
 
   -- Monthly and annual NAV development: 
 
 
 
 
 
                                                            31 Jan 17 
                                                     Month     LTM 
 
Total return NAV development per Share([1] #_ftn1)    1.1%      13.7% 
NAV development per Share                             1.1%       9.8% 
 
 
 
   -- Following the $0.25 accrual of the January 2017 declared dividend, the 31 
      January 2017 NAV per Share of $15.36  decreased $0.07 from $15.43 NAV per 
      Share at December 2016 
 
   -- NBPE's NAV decrease of $3.7 million (an increase of $8.5 million 
      excluding the dividend) during the month included: 
 
          -- $10.3 million increase in NAV attributable to changes in the value 
             of the investment portfolio 
 
                 -- $12.6 million of unrealised gains attributable to the 
                    receipt of new valuation information, or $0.26 per share 
 
                 --  ($3.4) million of other unrealised gains, or ($0.07) per 
                    share, of which ($3.7) million was attributable to 
                    unrealised losses on public securities and $0.3 million was 
                    attributable to mark-to-market gains and realised 
                    adjustments 
 
                 -- $1.1 million of accrued cash and payment in kind ("PIK") 
                    interest from the income investment portfolio, or $0.02 per 
                    share 
 
          -- ($12.2) million, or ($0.25) per Share, from the accrual for the 
             January 2017 declared dividend 
 
          -- ($1.8) million decrease in NAV attributable to changes in other 
             assets and liabilities during the month 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 31 January 2017 was 
based on the following information([2] #_ftn2) : 
 
 
   -- 39% of the private equity fair value was valued as of 31 January 2017 
 
          -- 26% in private direct investments 
 
          -- 11% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 9% of the private equity fair value was valued as of 31 December 2016 
 
          -- 9% in private direct investments 
 
   -- 52% of the private equity fair value was valued as of 30 September 2016 
 
          -- 35% in private direct investments 
 
          -- 17% in fund investments 
 
 
   Portfolio Commentary 
 
   During January, NBPE completed a new income investment in the first and 
second lien debt of Drive Medical, a manufacturer of medical mobility 
and rehabilitation products. NBPE also funded $0.6 million of follow-on 
investments to equity co-investments. 
 
   In terms of distributions, NBPE received $15.4 million from equity 
co-investments, primarily consisting of exit proceeds from the 
previously announced sale of Deltek. In addition, NBPE received $1.1 
million of distributions, consisting of interest and principal payments, 
from income investments. Fund investments distributed $5.0 million to 
NBPE during January. 
 
   There were two additional noteworthy events during the month. First, as 
a result of the announced acquisition of a majority stake in Evans 
Network of Companies, NBPE increased its carrying value of its equity 
investment. Proceeds were received in February. Second, on 23 January 
2017, NBPE declared its first 2017 dividend of $0.25 per Share, which 
represents an annualised yield of 3.3% on NAV and 3.9% on share price, 
based on the 17 February 2017 London Stock Exchange closing share price. 
 
   ([1] #_ftnref1) Assumes reinvestment of dividends on the ex-dividend 
date and reflects cumulative returns over time period shown. 
 
   ([2] #_ftnref2) Please refer to the valuation methodology section of the 
monthly report for a description of the Manager's valuation policy. 
While some valuation data is as of 31 December 2016 and 30 September 
2016, the Manager's analysis and historical experience lead the Manager 
to believe that this approximates fair value at 31 January 2017. 
 
   For further information, please contact: 
 
   NBPE Investor Relations          [phone] 
 
 
 
   Neustria Partners                     [phone] 
 
   Nick Henderson 
[e-mail] 
 
   Robert Bailhache 
[e-mail] 
 
   Charles Gorman 
[e-mail] 
 
   ABOUT NB PRIVATE EQUITY PARTNERS LIMITED 
 
   NBPE is a closed-end private equity investment company with class A 
ordinary shares admitted to trading on Euronext Amsterdam and the 
Specialist Fund Segment of the London Stock Exchange. NBPE has  2017 ZDP 
shares admitted to trading on the Specialist Fund Segment of the London 
Stock Exchange and the Daily Official List of The Channel Islands 
Securities Exchange Authority Limited and 2022 ZDP Shares  admitted to 
trading on the Specialist Fund Segment of the Main Market of the London 
Stock Exchange. NBPE holds a diversified portfolio of direct equity 
investments, direct income investments and fund investments selected by 
the NB Alternatives group of Neuberger Berman, diversified across 
private equity asset class, geography, industry, vintage year, and 
sponsor. 
 
   ABOUT NEUBERGER BERMAN 
 
   Neuberger Berman, founded in 1939, is a private, independent, 
employee-owned investment manager. The firm manages equities, fixed 
income, private equity and hedge fund portfolios for institutions and 
advisors worldwide. With offices in 19 countries, Neuberger Berman's 
team is more than 1,900 professionals and the company has been named by 
Pensions & Investments as a Best Place to Work in Money Management for 
four consecutive years. Tenured, stable and long-term in focus, the firm 
fosters an investment culture of fundamental research and independent 
thinking. It manages $255 billion in client assets as of December 31, 
2016. For more information, please visit our website at www.nb.com. 
 
   This press release appears as a matter of record only and does not 
constitute an offer to sell or a solicitation of an offer to purchase 
any security. 
 
   NBPE is established as a closed-end investment company domiciled in 
Guernsey. NBPE has received the necessary consent of the Guernsey 
Financial Services Commission and the States of Guernsey Policy Council. 
NBPE is registered with the Dutch Authority for the Financial Markets as 
a collective investment scheme which may offer participations in The 
Netherlands pursuant to article 2:66 of the Financial Markets 
Supervision Act (Wet op het financial toezicht). All investments are 
subject to risk. Past performance is no guarantee of future returns. The 
value of investments may fluctuate. Results achieved in the past are no 
guarantee of future results. This document is not intended to constitute 
legal, tax or accounting advice or investment recommendations. 
Prospective investors are advised to seek expert legal, financial, tax 
and other professional advice before making any investment decision. 
Statements contained in this document that are not historical facts are 
based on current expectations, estimates, projections, opinions and 
beliefs of NBPE's investment manager. Such statements involve known and 
unknown risks, uncertainties and other factors, and undue reliance 
should not be placed thereon. Additionally, this document contains 
"forward-looking statements." Actual events or results or the actual 
performance of NBPE may differ materially from those reflected or 
contemplated in such targets or forward-looking statements. 
 
   Jan 2017 NAV: http://hugin.info/137843/R/2079891/783142.pdf 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: NB Private Equity Partners Limited via Globenewswire 
 
 
  http://www.nbprivateequitypartners.com 
 

(END) Dow Jones Newswires

February 20, 2017 02:00 ET (07:00 GMT)

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