NB Private Equity Partners Limited Nb Private Equity: Monthly Nav Update For January 2019

 
TIDMNBPE 
 
 
   NB Private Equity Partners Announces Monthly NAV Update for January 2019 
 
   14 February 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 January 2019. 
 
   Key Highlights 
 
 
   -- Monthly and LTM NAV development: 
 
 
 
 
                                       31 Jan-19 
(Returns in $USD)              Month      LTM 
Total return NAV development 
 per Share(1)                    0.9%       4.7% 
NAV development per 
 Share                         (0.7%)       1.4% 
 
 
   -- Before accruing for the first semi-annual dividend for the year, NAV per 
      Share was $17.82, up from $17.66 at 31 December 2018. After accruing 
      $0.28 per Share for the dividend, 31 January 2019 NAV per Share of $17.54 
      (GBP13.33) decreased $0.12 (GBP0.54) from $17.66 (GBP13.87) NAV per Share 
      at 31 December 2018 
 
   -- NBPE's NAV decrease of $8.2 million during the month of January included: 
 
          -- $13.6 million decrease, or $0.28 per Share, from the accrual for 
             the January 2019 declared dividend 
 
          -- $11.1 million of other unrealised gains, or $0.23 per share, 
             attributable to gains from public securities, realisation 
             adjustments and mark-to-market adjustments 
 
          -- $1.2 million of accrued cash and PIK interest from the income 
             investment portfolio, or $0.02 per share 
 
          -- $5.9 million decrease in NAV attributable to value changes to 
             other assets and liabilities during the month 
 
          -- $1.0 million of unrealised losses attributable to the receipt of 
             new valuation information, or $0.02 per share 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 31 January 2019 was 
based on the following information(2) : 
 
 
   -- 18% of the private equity fair value was valued as of 31 January 2019 
 
          -- 11% in private direct investments 
 
          -- 7% in public securities 
 
   -- 15% of the private equity fair value was valued as of 31 December 2018 
 
          -- 14% in private direct investments 
 
          -- 1% in fund investments 
 
   -- 1% of the private equity fair value was valued as of 31 October 2018 
 
          -- 1% in private direct investments 
 
 
   -- 66% of the private equity fair value was valued as of 30 September 2018 
 
          -- 62% in private direct investments 
 
          -- 4% in fund investments 
 
 
   Portfolio Commentary 
 
   During January, NBPE completed one new direct equity investment in 
Agiliti, a provider of healthcare technology management and services. 
NBPE also funded an additional investment in GFL Environmental, an 
environmental services company. In terms of distributions, NBPE received 
$7.8 million from direct equity investments, consisting primarily of 
proceeds received as a result of the exit of Berlin Packaging. Income 
investments distributed $4.4 million, which consisted of $3.6 million of 
principal repayment and interest received from the exit of Epic 
Insurance, and $0.8 million in other principal and interest receipts. 
 
   Prior to the accrual of the declared dividend, the increase in NAV per 
Share was driven by changes in public positions, which increased by 
$10.1 million during the month. On 8 January 2019, NBPE declared the 
first 2019 semi-annual dividend of $0.28 per Share, which yields 
approximately 3.2% based on NAV and 3.9% based on the closing share 
price of GBP10.90 as of 31 January 2019. In addition, during January 
2019, the Company began repurchasing shares under the new share buyback 
agreement with Jefferies International Limited. During the month, NBPE 
repurchased 137,296 shares at a weighted average discount to NAV of 21%. 
The shares bought back will be canceled. 
 
   For further information, please contact: 
 
   NBPE Investor Relations          [phone] 
 
 
 
   Kaso Legg Communications    [phone] 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=aG5JJfwBAUYRC1wWX2BAy67VCn9MlWXZMpngG_IV5941GLvU23wcRWrCTwKN76wBC6eTNjlsOeKiCfQKMxjtzDmw83PCOl93MsdwAp7RjOdEzefyCnslRHbHuSUFHFnG 
[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. 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 22 countries, 
Neuberger Berman's team is more than 2,000 professionals. For five 
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 $304 billion 
in client assets as of December 31, 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 December 2018, 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 January 
2019. 
 
   Attachment 
 
 
   -- NBPE January Monthly 2019 
      https://ml-eu.globenewswire.com/Resource/Download/026975bb-e5a6-4e33-8767-748a6f4c6a75 
 
 
 
 
 

(END) Dow Jones Newswires

February 14, 2019 02:00 ET (07:00 GMT)

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