NB Private Equity Partners Limited : Monthly NAV - April 2017

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NB Private Equity Partners Announces Monthly NAV Update for April 2017

8 June 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 30 April 2017.

Key Highlights

• Monthly and annual NAV development:

	Month	30 April 17 YTD	30 April 17 LTM
Total return NAV development per Share[1]	0.2%	1.9%	17.8%
NAV development per Share	0.2%	0.2%	13.9%

• 30 April 2017 NAV per Share of $15.95 (£12.31) increased $0.03 (-£0.38) from $15.92 (£12.69) NAV per Share at 31 March 2017
   
• NBPE's NAV increase of $1.3 million during the month included:
   
  • $2.0 million increase in NAV attributable to changes in the value of the investment portfolio
    • $2.5 million increase of unrealised gains attributable to the receipt of new valuation information, or $0.05 per share
    • $2.4 million decrease of other unrealised losses, or $0.05 per share, attributable to public securities, mark-to-market gains and realised adjustments
    • $0.3 million was attributable to positive foreign exchange adjustments at the portfolio company level, or $0.01 per share
    • $1.6 million of accrued cash and payment in kind ("PIK") interest from the income investment portfolio, or $0.03 per share
  • $0.7 million decrease in NAV attributable to value changes to other assets and liabilities during the month

Portfolio Valuation

The value of NBPE's private equity portfolio as of 30 April 2017 was based on the following information^[2]:

• 40% of the private equity fair value was valued as of 30 April 2017
  • 30% in private direct investments
  • 10% in public securities
     
• 59% of the private equity fair value was valued as of 31 March 2017
  • 44% in private direct investments
  • 15% in fund investments
     
• 1% of the private equity fair value was valued as of 31 December 2016
  • 1% in fund investments

Portfolio Commentary

During April, NBPE funded $31.9 million to new investments, including $31.1 million to four new direct equity co-investments. NBPE invested in Accedian, a network technology company; Compliance Solutions Strategies, a provider of compliance solutions to the financial services sector; Material Handling Systems, an infrastructure and automation outsourcing company; and Wind River Environmental, a provider of waste management services. NBPE also funded $0.7 million to one new credit opportunities investment and $0.1 million of follow-ons to fund investments. In terms of distributions, NBPE received $10.5 million during April, largely driven by the principal repayment of NBPE's second lien investment in Flexera Software and cash interest received from income investments. NBPE also received $2.4 million of distributions from fund investments.

Subsequent to this reporting period, on 2 May 2017, NBPE's Class A Shares were admitted to trading on the Premium Segment of the Main Market of the London Stock Exchange and on 31 May 2017 the 2017 ZDP shares were redeemed in full. In addition, it was announced in May that Patheon would be acquired by Thermo Fisher (subject to certain closing conditions) and Gardner Denver successfully completed an IPO on the New York Stock Exchange.

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 Premium Segment of the Main Market of the London Stock Exchange. NBPE has 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 approximately 1,900 professionals, as of May 1, 2017. The company was named the #1 firm in Pensions & Investments 2016 Best Places to Work in Money Management survey (among those with 1,000 employees or more). Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $267 billion in client assets as of March 31, 2017. For more information, please visit our website at www.nb.com.

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^[1] Assumes reinvestment of dividends on the ex-dividend date and reflects cumulative returns over time period shown.

^[2] 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 March 2017 and 31 December 2016, the Manager's analysis and historical experience lead the Manager to believe that this approximates fair value at 30 April 2017.

April 2017 NAV

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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