NB Private Equity Partners Limited Nbpe: Monthly Nav September 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 JURISDICTION 
 
   NB Private Equity Partners Announces Monthly NAV Update for September 
2017 
 
   25 October 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 September 2017. 
 
   Key Highlights 
 
 
   -- Monthly and annual NAV development: 
 
 
 
 
 
                                      30 Sep-17  30 Sep-17 
                               Month     YTD        LTM 
Total return NAV development 
 per Share([1] #_ftn1)          0.9%       6.8%      15.2% 
NAV development per Share       0.9%       3.5%      11.7% 
 
 
 
   -- 30 September 2017 NAV per Share of $16.47 (GBP12.29) increased $0.15 
      (-GBP0.33) from $16.32 (GBP12.62) NAV per Share at 31 August 2017 
 
   -- NBPE's NAV increase of $7.3 million during the month included: 
 
          -- $4.3 million increase of unrealised gains attributable to the 
             receipt of new valuation information, or $0.09 per share 
 
          -- $5.5 million increase of other unrealised gains, or $0.11 per 
             share, attributable to public securities, mark-to-market gains and 
             realised adjustments 
 
          -- $1.0 million of accrued cash and payment in kind ("PIK") interest 
             from the income investment portfolio, or $0.02 per share 
 
          -- ($3.5) 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 September 2017 was 
based on the following information([2] #_ftn2) : 
 
 
   -- 32% of the private equity fair value was valued as of 30 September 2017 
 
          -- 21% in private direct investments 
 
          -- 8% in public securities 
 
          -- 3% in credit-related fund investments 
 
   -- 1% of the private equity fair value was valued as of 31 August 2017 
 
          -- 1% in private direct investments 
 
   -- 67% of the private equity fair value was valued as of 30 June 2017 
 
          -- 57% in private direct investments 
 
          -- 10% in fund investments 
 
 
   Portfolio Commentary 
 
   During September, NBPE participated in two new equity investments 
including Staples, a provider of office supplies through a business to 
business platform and North American retail channels, and West Marine, a 
specialty retailer of boating supplies. In addition, NBPE funded two new 
income investments in the second lien debt of FirstLight Fiber, a data 
and internet provider, and the second lien debt of Epic Insurance, an 
insurance brokerage firm. 
 
   NBPE received $19.0 million of distributions from direct equity 
investments, of which $17.5 million was received from the previously 
announced sale of Patheon and from the sale of Oticas Carol. The 
remaining $1.2 million consisted of proceeds received from partial 
realisations. Distributions from income investments totaled $10.9 
million during the month, which consisted primarily of exit proceeds 
from GCA Services. In addition, fund investments distributed $5.0 
million to NBPE. Subsequent to this reporting period, the sale of The 
Warranty Group to Assurant was announced and is expected to close in the 
first half of 2018; as of 30 September 2017, the valuation of The 
Warranty Group was increased, but remains at a discount to the expected 
sale proceeds, which consist mostly of Assurant public stock. 
 
   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 the Premium Segment of the Main 
Market of the London Stock Exchange and Euronext Amsterdam. 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 a range of 
strategies-including equity, fixed income, quantitative and multi-asset 
class, private equity and hedge funds-on behalf of institutions, 
advisors and individual investors globally. With offices in 19 countries, 
Neuberger Berman's team is approximately 1,900 professionals, as of 
September 30, 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 $284 billion in client assets as of 
September 30, 2017. 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. 
 
   ([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 August 2017 and 30 June 2017, 
the Manager's analysis and historical experience lead the Manager to 
believe that this approximates fair value at 30 September 2017. 
 
   NBPE: Monthly NAV September 2017 
http://hugin.info/137843/R/2144281/821758.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

October 25, 2017 02:00 ET (06:00 GMT)

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