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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
  -2.50p -0.23% 1,092.50p 1,085.00p 1,100.00p 1,095.00p 1,090.00p 1,090.00p 2,703,899 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments - - - - 532.38

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

19/03/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMNBPE 
 
 
   NB Private Equity Partners Announces Monthly NAV Update for February 
2019 
 
   19 March 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 28 February 2019. 
 
   Key Highlights 
 
 
   -- Monthly, year to date and LTM NAV development: 
 
 
 
 
                                       28 Feb-19  28 Feb-19 
(Returns in $USD)              Month      YTD        LTM 
                               ------             --------- 
Total return NAV development 
 per Share[1]                  (0.3%)       0.6%       5.3% 
NAV development per 
 Share                         (0.3%)     (1.0%)       2.0% 
 
 
   -- 28 February 2019 NAV per Share of $17.48 (GBP13.14) decreased $0.06 
      (GBP0.19) from $17.54 (GBP13.33) NAV per Share at 31 January 2019 
 
   -- NBPE's NAV decrease of $3.0 million during the month of February 
      included: 
 
          -- $3.6 million of unrealised losses attributable to the receipt of 
             new valuation information, or $0.07 per share 
 
          -- $2.9 million decrease in NAV attributable to value changes to 
             other assets and liabilities during the month 
 
          -- $2.5 million of other unrealised gains, or $0.05 per share, 
             attributable to gains from public securities, realisation 
             adjustments and mark-to-market adjustments 
 
          -- $1.0 million of accrued cash and PIK interest from the income 
             portfolio, or $0.02 per share 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 28 February 2019 was 
based on the following information[2]: 
 
 
   -- 16% of the private equity fair value was valued as of 28 February 2019 
 
 
   -- 
 
          -- 
 
                 -- 9% in private direct investment 
 
                 -- 7% in public securities 
 
 
   -- 2% of the private equity fair value was valued as of 31 January 2019 
 
 
   -- 
 
          -- 2% in fund investments 
 
 
   -- 25% of the private equity fair value was valued as of 31 December 2018 
 
 
   -- 
 
          -- 25% in private direct investments 
 
 
   -- 57% of the private equity fair value was valued as of 30 September 2018 
 
 
   -- 
 
          -- 54% in private direct investments 
 
          -- 3% in fund investments 
 
 
   The Investment Manager is continuing to receive year end valuation 
information and notably approximately 73% of the private investments in 
the direct equity portfolio remain valued based on information as of 30 
September 2018. Additional 31 December 2018 valuation information is 
expected over the coming weeks. 
 
   Portfolio Commentary 
 
   During February, NBPE funded one follow-on investment to Compliance 
Solutions Strategies, a provider of compliance solutions to the 
financial sector. In terms of distributions, NBPE received $0.7 million 
from income investments, consisting of interest receipts and principal 
repayments. 
 
   On 28 February 2019, NBPE paid the first 2019 semi-annual dividend of 
$0.28 per share, which represents an annualised yield of 3.8% on the 
share price and 3.2% on NAV. NBPE repurchased 10,000 Class A shares 
during the month of February at a discount of 19.9%. The shares bought 
back will be canceled. 
 
   For further information, please contact: 
 
   NBPE Investor Relations          +1 214 647 9593 
 
 
 
   Kaso Legg Communications    +44 (0)20 3603 2803 
 
   Charles Gorman                        nbpe@kl-communications.com 
https://www.globenewswire.com/Tracker?data=SMX1CQn8yq750dYVVy7B2Y1bFYjRYWtR3z7K2eorCJCzaLdoO1humwbAKptoAik_x8OFiXgrV9pf5DcsDf82rbmBMc0Nfd1-H-ew9nkjHzZSz69JnTgi4E5ir2XK8P5D 
 
 
   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] Pease 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 January 2019, 31 December 2018 and 30 
September 2018, the Manager's analysis and historical experience lead 
the Manager to believe that this approximates fair value at 28 February 
2019. 
 
   Attachment 
 
 
   -- NBPE February Monthly 2019 
      https://ml-eu.globenewswire.com/Resource/Download/d1ff1be6-a29e-48dc-8e75-4a2eb26e1203 
 
 
 
 
 

(END) Dow Jones Newswires

March 19, 2019 03:00 ET (07:00 GMT)

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

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