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Share Name Share Symbol Market Type Share ISIN Share Description
NB Priv. Eqty 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
  +10.00p +0.92% 1,100.00p 1,090.00p 1,100.00p 1,100.00p 1,095.00p 1,100.00p 126,006 16:29:44
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments - - - - 536.04

NB Private Equity Partners Limited Nb Private Equity: Monthly Nav Update For December 2018

15/01/2019 7:00am

UK Regulatory (RNS & others)


 
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 Announces Monthly NAV Update for December 
2018 
 
   15 January 2019 
 
   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 December 2018. 
 
   Key Highlights 
 
 
   -- Monthly and annual NAV development: 
 
 
 
 
                                                    31 Dec-18 
(Returns in $USD)                           Month         YTD 
Total return NAV development per Share(1)   (1.1%)       4.3% 
NAV development per Share                   (1.1%)       1.2% 
 
 
   -- 31 December 2018 NAV per Share of $17.66 (GBP13.87) decreased $0.20 
      (GBP0.13) from $17.86 (GBP14.00) NAV per Share at 30 November 2018 
 
   -- NBPE's NAV decrease of $9.6 million during the month of December 
      included: 
 
          -- $7.6 million of other unrealised losses, or $0.16 per share, 
             attributable to losses from public securities, realisation 
             adjustments and mark-to-market adjustments 
 
          -- $2.6 million decrease in NAV attributable to value changes to 
             other assets and liabilities during the month 
 
          -- $1.2 million of accrued cash and PIK interest from the income 
             investment portfolio, or $0.02 per share 
 
          -- $0.6 million of unrealised losses attributable to the receipt of 
             new valuation information, or $0.01 per share 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 31 December 2018 was 
based on the following information(2) : 
 
 
   -- 20% of the private equity fair value was valued as of 31 December 2018 
 
          -- 14% in private direct investments 
 
          -- 6% in public securities 
 
   -- 2% of the private equity fair value was valued as of 31 October 2018 
 
          -- 1% in private direct investments 
 
          -- 1% in fund investments 
 
   -- 78% of the private equity fair value was valued as of 30 September 2018 
 
          -- 74% in private direct investments 
 
          -- 4% in fund investments 
 
 
   Portfolio Commentary 
 
   During December, NBPE funded $21.2 million to two new direct equity 
investments in Hivory, a European telecommunications company, and 
Plaskolite, a manufacturer of acrylic sheet products. NBPE also funded 
an additional investment of $8.1 million to an existing portfolio of 
Italian middle-market companies. 
 
   The largest realisation was a result of a secondary sale of legacy fund 
interests. NBPE sold 14 legacy fund interests and in total will receive 
proceeds of $19.4 million from the sale. At closing, NBPE received 
approximately $9.4 million and recorded a receivable at 31 December 2018 
for a fund interest which closed in January and for the portion of the 
proceeds which are subject to a 12 month deferral. Income investments 
distributed $2.6 million during the month, consisting of interest 
receipts and principal repayments. NBPE also received $1.6 million from 
direct equity investments consisting primarily of dividends and other 
returns of capital received from Telxius and QPark. 
 
   The most significant valuation change during December was the result of 
public valuation declines; NBPE recorded an unrealised loss of $7.4 
million in the value of its direct equity investments. Private company 
valuations have not yet been updated to December, but there was an 
announcement of a pending realisation, with Veritas Capital announcing 
the sale of Standard Aero which is expected to close in the first half 
of 2019. 
 
   For further information, please contact: 
 
   NBPE Investor Relations          +1 214 647 9593 
 
 
 
   Kaso Legg Communications    +44 (0)20 3603 2803 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=5yBhpR1SwAnLIFPPRO95Howf4_pHuzutPvrkvc8kxLcQUFTMKkGQLTa4-kFIs-YrcFZiL77-NJddNPg-kG0pYi2-MfZ_qVjL5FlDoEVDVbVD-jYeTWUuSyDgZzC4GtzX 
nbpe@kl-communications.com 
 
   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. 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 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. 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 monthly 
report for a description of the Manager's valuation methodology. While 
some valuation data is as of 31 October 2018 and 30 September 2018, the 
Manager's analysis and historical experience lead the Manager to believe 
that this approximates fair value at 31 December 2018. 
 
   Attachments 
 
 
   -- NBPE December Monthly 2018 
      https://ml-eu.globenewswire.com/Resource/Download/e6e6ced3-9487-4e97-bcd4-fe8636edf66e 
 
 
   -- NBPE Announces Monthly NAV Update for December 
      https://ml-eu.globenewswire.com/Resource/Download/9b26744d-cb8e-4b92-97b0-310eb11fba0b 
 
 
 
 
 

(END) Dow Jones Newswires

January 15, 2019 02:00 ET (07:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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