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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nb Private Equity Partners Limited | LSE:NBPE | London | Ordinary Share | GG00B1ZBD492 | ORD USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,646.00 | 1,620.00 | 1,646.00 | 1,646.00 | 1,644.00 | 1,644.00 | 56,163 | 16:35:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | 55.72M | -108.95M | -2.3419 | -8.97 | 976.94M |
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
14 October 2016
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 2016.
Key Highlights
Month | 30 Sept 16 YTD | 30 Sept 16 LTM | |
Total return NAV development per Share[1] | 1.6% | 6.4% | 6.3% |
NAV development per Share | 1.6% | 2.7% | 2.6% |
Portfolio Valuation
The value of NBPE's private equity portfolio as of 30 September 2016 was based on the following information[2]:
Portfolio Commentary
During September, NBPE received $26.3 million of distributions from income investments, of which $22.0 million was the result of full exits from two second lien debt positions. The remaining distributions from the income portfolio consisted of interest and principal payments. In the direct equity portfolio, NBPE received $1.2 million of proceeds from the continuing realisation of its public holding of Commscope. NBPE also received $3.6 million of distributions from its fund portfolio during September. In terms of new investments, NBPE funded $6.0 million into new income investments and $5.5 million to new and follow-on equity investments.
In a notable post reporting period event, on 11 October 2016, Extraction Oil & Gas (previously referred to in NBPE reporting as "Oil & Gas Company") completed an initial public offering. The IPO price has been used in this monthly report to reflect fair value as of September 30th 2016. Following this uplift in valuation, Extraction represents the largest investment in NBPE, comprising 4.4% of September 30th 2016 net asset value and increasing total public equity exposure to 12.3% of net asset value.
A notable capital structure initiative was completed during September, with the issuance of £50 million of 2022 ZDP Shares at a Gross Redemption Yield of 4%. This new issue was substantially completed through a roll over of the existing 2017 ZDP shares. This issuance, together with the new credit facility put in place in June 2016, extends NBPE's financing maturities and positions it with a strong balance sheet and significant capacity for new investments.
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Neustria Partners +44 20 3021 2580
Nick Henderson Nick.Henderson@neustriapartners.com
Robert Bailhache Robert.Bailhache@neustriapartners.com
Charles Gorman Charles.Gorman@neustriapartners.com
[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 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 Includes Extraction valued at 11 October 2016 IPO price of $19 per share, based on preliminary share count and subject to adjustments.
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