NB Private Equity Partners Limited Nb Private Equity Partners Announces Quarterly Report And October Monthly Nav Update

 
TIDMNBPE 
 
 
   NB Private Equity Partners Announces Quarterly Report and October 
Monthly NAV Update 
 
   17 November 2016 
 
   NB Private Equity Partners Limited ("NBPE" or the "Company"), a 
closed-end private equity investment company, today releases its 
Quarterly Report for the period ended 30 September 2016 as well as its 
restated Net Asset Value ("NAV") for the period ended 31 October 2016. 
NBPE also announces that an investor conference call will be held on 
Tuesday 22 November 2016 in order to discuss the Company's recent 
financial results and Company developments. 
 
   Key Highlights 
 
 
   -- 30 September 2016 NAV per Share of $15.05, up from $14.35 per Share at 31 
      December 2015 
 
          -- Year to date NAV per Share total return of 8.6% 
 
          -- NAV per Share change was driven by realised and unrealised 
             investment gains and portfolio yield income, offset by dividends 
             and expenses 
 
   -- NBPE's NAV increase of $34 million during the first nine months of 2016 
      included: 
 
          -- $25.3 million of yield income and dividends, or $0.52 per Share 
 
          -- $20.6 million of realised gains, or $0.42 per Share, net of tax 
             expense 
 
          -- $19.5 million of unrealised gains, or $0.40 per Share, net of tax 
             expense 
 
          -- $12.7 million of FX gains related to ZDPs and investments, or 
             $0.26 per Share 
 
          -- $4.5 million of financing costs, or ($0.09) per share 
 
          -- $15.2 million of management fees, operating expenses, performance 
             fee, and other expenses, or ($0.31) per Share 
 
          -- $24.4 million of dividends paid, or ($0.50) per Share 
 
   -- 31 October 2016 NAV per Share was $15.01. During October, private equity 
      fair value decreased by $1.6 million as a result of the receipt of 
      additional valuation information 
 
   -- NAV development during 2016 to date has been as follows: 
 
 
 
 
 
                                  31 October   31 October 
                                   2016 Month   2016 YTD   31 October 2016 LTM 
 
Total return NAV development per 
 Share([1] #_ftn1)                       1.8%        8.3%                 8.0% 
NAV development per Share                1.8%        4.6%                 4.3% 
 
 
 
 
 
   Portfolio Commentary 
 
 
   -- Strong cash flow: $228.3 million of distributions received during the 
      first nine months of 2016. An additional $53.5 million of distributions 
      were received during the month of October 2016, bringing 2016 YTD 
      distributions to $281.8 million 
 
   -- New investments: 11 new equity investments and seven new income 
      investments completed in the first nine months of 2016 totalling $89.5 
      million. One follow-on equity co-investment completed in October 
 
   -- Direct investment focus: $563.4 million of fair value invested in direct 
      equity and income investments at 31 October 2016 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as at 30 September 2016 was 
based on the following information([2] #_ftn2) : 
 
 
   -- 95% of the private equity fair value was valued as of 30 September 2016 
 
          -- 74% in private direct investments 
 
          -- 12% in fund investments 
 
          -- 7% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 5% of the private equity fair value was valued as of 30 June 2016 
 
          -- 5% in fund investments 
 
 
 
   The value of NBPE's private equity portfolio as of 31 October 2016 was 
based on the following information([3] #_ftn3) : 
 
 
   -- 39% of the private equity fair value was valued as of 31 October 2016 
 
          -- 24% in private direct investments 
 
          -- 13% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 57% of the private equity fair value was valued as of 30 September 2016 
 
          -- 44% in private direct investments 
 
          -- 13% in fund investments 
 
   -- 4% of the private equity fair value was valued as of 30 June 2016 
 
          -- 4% in fund investments 
 
 
 
 
   Investor Call 
 
   NB Private Equity Partners Limited ("NBPE" or the "Company") today 
announced that an investor conference call will be held on Tuesday 22 
November 2016 in order to discuss the Company's recent financial 
performance and Company developments. 
 
   The conference call will take place at 14.00 GMT / 15.00 CET / 9.00 EST 
and can be accessed by dialing [phone] (U.S.) or [phone] 
(International) with the access code 21104313. Please ask for "the NBPE 
investor call." 
 
   A playback facility will be available two hours after the conference 
call concludes. This facility can be accessed for the following two 
weeks by dialing [phone] (U.S.) or [phone] 
(International). The code to access the playback facility is 21104313. A 
recording of the investor call will also be available on NBPE's website 
within several days after the call. 
 
   An updated investor presentation will be available prior to the call on 
NBPE's website at http://www.nbprivateequitypartners.com/. 
 
   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 income 
investments, direct equity 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 was named by 
Pensions & Investments as a Best Place to Work in Money Management for 
three 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 
September 30, 2016. For more information, please visit our website at 
www.nb.com. 
 
   #_ftnref1 Note: numbers may not sum due to rounding. 
 
   [1] Total return figures assume the re-investment of dividends based on 
the net asset value on the ex-dividend date. All returns reflect 
cumulative returns over the time period shown. 
 
   ([2] #_ftnref2) Please refer to the valuation methodology section of the 
Quarterly Report for a description of the Manager's valuation policy. 
While some valuation data is as of 30 June 2016, the Manager's analysis 
and historical experience lead the Manager to believe that this 
approximates fair value at 30 September 2016. 
 
   ([3] #_ftnref3) Please refer to the valuation methodology section of the 
Quarterly Report for a description of the Manager's valuation policy. 
While some valuation data is as of 30 September 2016 and 30 June 2016, 
the Manager's analysis and historical experience lead the Manager to 
believe that this approximates fair value at 31 October 2016. 
 
   NBPE Q3 Report: http://hugin.info/137843/R/2057482/770899.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

November 17, 2016 02:00 ET (07:00 GMT)

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