NB Private Equity Partners Limited 30 September 2018 Quarterly Report

 
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 Publishes 30 September 2018 Quarterly Report 
 
   10 December 2018 
 
   NB Private Equity Partners Limited ("NBPE" or the "Company"), a 
closed-end private equity investment company, today releases its 30 
September 2018 Quarterly Report. Key highlights and commentary are below 
and the complete Quarterly Report can be found on the Company's website 
at www.nbprivateequitypartners.com. 
 
   Key Highlights 
 
 
   -- 30 September 2018 Net Asset Value ("NAV") per Share of $18.27 (GBP14.02) 
      increased $0.82 (GBP1.11) from $17.45 (GBP12.91) NAV per Share at 31 
      December 2017 
 
 
   -- NAV per Share total return of 7.9% 
 
   -- NAV per Share of $18.27 is a $0.60 increase relative to the originally 
      published 30 September 2018 monthly NAV estimate of $17.67 
 
   -- NAV per Share increase was driven by realised gains, income and dividends 
      and offset by expenses 
 
 
   -- NBPE's NAV increase of $40.2 million during 2018 included: 
 
 
   -- $67.4 million of realised gains, or $1.38 per Share, net of tax expense 
 
   -- $13.1 million of yield income and dividends, or $0.27 per Share 
 
   -- $11.2 million of unrealised gains, or $0.23 per Share, net of tax expense 
 
   -- ($0.1) million of losses on foreign exchange related to ZDPs and 
      investments, or ($0.00) per Share 
 
   -- ($7.0) million of interest and other financing costs, or ($0.14) per 
      Share 
 
   -- ($18.5) million of management fees, operating expenses, and other 
      expenses, or ($0.38) per Share 
 
   -- ($25.9) million of dividends paid, or ($0.53) per Share 
 
 
   -- Including the updated private valuation information, 31 October 2018 
      Re-stated NAV per share is $18.05, which is an increase of $0.58 per 
      Share from the original estimate of $17.47 
 
 
   -- NAV development during 2018 has been as follows: 
 
 
 
 
                                30 September   30 September 
  (Returns in $USD)    Month      2018 YTD      2018 LTM 
 
Total return NAV 
 development per 
 Share(1)             3.0%          7.9%           12.3% 
NAV development 
 per Share            3.0%          4.7%            9.0% 
 
 
   Portfolio Commentary 
 
 
   -- Strong cash flow: $180.3 million of realisations received during the 
      first nine months of 2018 
 
   -- 2018 Realisations: NBPE fully exited five direct equity investments which 
      generated a 1.9x gross multiple in aggregate (inclusive of prior 
      realisations) 
 
   -- IPO Activity: three IPOs in the direct equity portfolio during the first 
      nine months of 2018 
 
   -- New investments: 21 new direct equity investments completed in the first 
      nine months of 2018 totalling $114.7 million 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as at 30 September 2018 was 
based on the following information(2) : 
 
 
   -- 100% of the private equity fair value was valued as of 30 September 2018 
 
 
          -- 90% in private direct investments and fund investments 
 
          -- 9% in public securities 
 
          -- 1% in credit-related fund investments 
 
 
   Investor Call 
 
   NB Private Equity Partners Limited ("NBPE" or the "Company") today 
announced that an investor conference call will be held on Wednesday 12 
December 2018 in order to discuss the Company's recent financial 
performance and Company developments. 
 
   The conference call will take place at 14.00 GMT / 15.00 CET / 9.00 EST 
and can be accessed by dialing [phone] (U.S.) or [phone] 
(International) with the access code 9894405. Please ask for "the NBPE 
investor call." 
 
   A playback facility will be available two hours after the conference 
call concludes. This facility can be accessed for the following two 
weeks by dialing [phone] (U.S.) or [phone] 
(International). The code to access the playback facility is 9894405. A 
recording of the investor call will also be available on NBPE's website 
within several days after the call. 
 
   An updated investor presentation will be available prior to the call on 
NBPE's website at 
https://www.globenewswire.com/Tracker?data=Lmi94GCb6l_UU4IP8QBfpIasbvcmSXWXKeLdzu3hyf1lfeWQeL9uA_hqb43ob5eIAioR0d-ok84gDW1_nJSjNPoTFPiFORHy5ShmpkB-HzFYddXcf4Sc0aSrgecpE27HxC1ZW9exytQ0EMCeQn46jA== 
http://www.nbprivateequitypartners.com/ 
 
   For further information, please contact: 
 
   NBPE Investor Relations          [phone] 
 
 
 
   Kaso Legg Communications    [phone] 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=uroCymoPYw0gLQQTCnxbfVhA76wQ7J4Hj5snPLXSJ_UppfNVaZTtPJPGbnGWdaM7sEu5cxb26kICNG9mz2FRbY62pldIChyN7WwVXavT_0uHApDlvDN8sN6WiWbrkkhk 
[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 and 2024 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. 
 
   LEI number: 213800UJH93NH8IOFQ77 
 
   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 20 countries, 
Neuberger Berman's team is more than 2,000 professionals. For four 
consecutive years, the company has been named first or second in 
Pensions & Investments 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 $315 billion 
in client assets as of September 30, 2018. For more information, please 
visit our website at 
https://www.globenewswire.com/Tracker?data=JVuwYhxlkUm3Pa7P7HA71qFOANfrB-FRxZ5VbcSyFgkBNcCsWINq4jh00QuifkH56xlTAW9R13To9Lr6Oj227w== 
www.nb.com. 
 
   This statement is made pursuant to article 5:25e of the Dutch Financial 
Supervision Act (Wet op het financieel toezicht) which requirement stems 
from the EU Transparency Directive. Pursuant to article 5:25e and 
article 5:25m of the Dutch Financial Supervision Act this Interim 
Management Statement has been made generally available by means of a 
press release and by publication on NBPE's website ( 
https://www.globenewswire.com/Tracker?data=JVuwYhxlkUm3Pa7P7HA71hfnW0pvXaM8-WwIHi9Y5_Q9lZJgs1LZRwZlvDqhhJpdgzzuIN4E0K-KSzpLvfpF7eb7ZSlqHkYBCSLmm9hggOTH2gCzqOxbtJMPcFpDXjZ8 
www.nbprivateequitypartners.com) and has been filed with the Netherlands 
Authority for the Financial Markets (Autoriteit Financiële 
Markten). 
 
   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) 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 Quarterly 
Report. 
 
   Attachment 
 
 
   -- NBPE Q3 2018 Quarterly Report 
      https://ml-eu.globenewswire.com/Resource/Download/2780f4bb-9600-47af-a7dc-c4a6a263078b 
 
 
 
 
 

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December 10, 2018 02:00 ET (07:00 GMT)

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