NB Private Equity Partners Limited Valuation Uplift Following Ipo Of Extraction Oil & Gas Inc.

 
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 
 
   NBPE Announces Valuation Uplift Following IPO of Extraction Oil & Gas 
Inc. 
 
   13 October 2016 
 
   NBPE today announces the valuation impact of the initial public offering 
of its portfolio company Extraction Oil & Gas Inc ("Extraction") 
(NASDAQ: XOG) which occurred on 11 October 2016. Extraction is a U.S. 
based energy company focused on the exploration and production of oil 
and gas reserves in the Rocky Mountains.  NBPE initially invested in 
Extraction in May 2014 and made multiple follow on investments between 
June 2014 and April 2016. Prior to NBPE's initial investment, Extraction 
had been funded by a sophisticated private equity investor. As of 31 
August 2016, Extraction (formerly referred to in NBPE's reporting as 
"Oil & Gas Company") was NBPE's largest equity investment by fair value, 
being held at a total valuation of $18.8 million. At the IPO price of 
$19 per share (above the estimated IPO price range of $15 - $18), NBPE's 
position was valued at approximately $31.5 million([1] #_ftn1) . The 
valuation increase in this position will result in an uplift of $0.26 
per share to NBPE's August monthly portfolio fair value. NBPE did not 
sell any shares as part of the initial public offering. On 12 October 
2016, the closing share price of Extraction was $21.85 per share. 
 
   In NBPE's 30 September 2016 monthly report, which will be issued in the 
coming days, the IPO price for Extraction will be used to reflect its 
fair value as of 30 September 2016. 
 
   [1] Based on the preliminary share count of Extraction, subject to 
adjustments. 
 
   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 applications have been made 
for 2022 ZDP Shares to be 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 approximately 2,000 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 $246 billion in client assets as of 
June 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) Based on the preliminary share count of Extraction, 
subject to adjustments. 
 
   Valuation Uplift: http://hugin.info/137843/R/2048729/766036.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 13, 2016 02:01 ET (06:01 GMT)

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