NB Private Equity Partners Limited Nb Private Equity Partners Limited : Monthly Nav - April 2017

 
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 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: 
 
 
 
 
 
                                      30 April 17  30 April 17 
                               Month      YTD          LTM 
Total return NAV development 
 per Share([1] #_ftn1)          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 (GBP12.31) increased $0.03 
      (-GBP0.38) from $15.92 (GBP12.69) 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] #_ftn2) : 
 
 
   -- 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. 
 
   ([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 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: http://hugin.info/137843/R/2111436/802788.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

June 08, 2017 02:00 ET (06:00 GMT)

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