NB Private Equity Partners Limited October 2016 Monthly Net Asset Value

 
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 
 
   10 November 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 31 October 2016. 
 
   Key Highlights 
 
 
   -- Monthly, year to date and LTM NAV development: 
 
 
 
 
 
                                           Month  31 Oct 16 YTD  31 Oct 16 LTM 
 
Total return NAV development per 
 Share([1] #_ftn1)                          2.0%           8.6%           8.2% 
NAV development per Share                   2.0%           4.8%           4.5% 
 
 
 
   -- 31 October 2016 NAV per Share of $15.04, $0.29 increase from $14.75 NAV 
      per Share at 30 September 2016 
 
   -- NBPE's NAV increase of $14.6 million during the month included: 
 
          -- $19.5 million increase in NAV attributable to changes in the value 
             of the investment portfolio 
 
                 -- $16.9 million of unrealised gains attributable to the 
                    receipt of new valuation information, or $0.35 per share 
 
                 -- $2.1 million of other unrealised and realised gains on 
                    investments, or $0.04 per share 
 
                 -- $1.6 million of accrued cash and payment in kind ("PIK") 
                    interest from the income investment portfolio, or $0.03 per 
                    share 
 
                 -- $0.5 million of unrealised gains on public securities, or 
                    $0.01 per share 
 
                 -- ($1.6) million of foreign exchange adjustments at the 
                    portfolio company level, or ($0.03) per share 
 
          -- $5.0 million decrease in NAV attributable to expenses and other 
             liabilities during the month 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 31 October 2016 was 
based on the following information([2] #_ftn2) : 
 
 
   -- 38% of the private equity fair value was valued as of 31 October 2016 
 
          -- 23% in private direct investments 
 
          -- 13% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 56% of the private equity fair value was valued as of 30 September 2016 
 
          -- 44% in private direct investments 
 
          -- 12% in fund investments 
 
   -- 6% of the private equity fair value was valued as of 30 June 2016 
 
          -- 6% in fund investments 
 
 
   Portfolio Commentary 
 
   During October, NBPE received $50.3 million of proceeds from income 
investments, driven by $45.9 million from the exits of second lien debt 
investments in Converge One, K&N Engineering and Evoqua and an 
additional $4.4 million of principal and interest proceeds. Equity 
co-investments distributed $0.8 million and fund investments distributed 
$2.4 million, consisting primarily of distributions received from a 
mid-cap buyout fund. Also during the month, Extraction Oil & Gas 
(NASDAQ: XOG) completed an IPO and NBPE has valued its position based on 
the 31 October 2016 closing share price of $21.36, making it the largest 
position in NBPE and bringing total public exposure in NBPE to 13% of 
net asset value. 
 
   In terms of new investments, NBPE funded a $4.3 million follow-on 
investment to Engineering, an Italian IT firm, and $0.2 million of 
additional follow-on investments. Fund investments called $1.5 million 
during October, driven largely by a $1.1 million contribution to a 
growth equity fund. 
 
   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 Market of the London Stock Exchange. NBPE has  2017 ZDP 
shares admitted to trading on the Specialist Fund Market 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. 
 
   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 30 June and 30 September 2016, the 
Manager's analysis and historical experience lead the Manager to believe 
that this approximates fair value at 31 October 2016. 
 
   October 2016 Monthly NAV: http://hugin.info/137843/R/2055844/769967.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 10, 2016 02:01 ET (07:01 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.