NB Private Equity Partners Limited Nbpe Announces Monthly Nav Update For July 2018

 
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 July 2018 
 
   24 September 2018 
 
   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 July 2018. 
 
   Key Highlights 
 
 
   -- Monthly and annual NAV development: 
 
 
 
 
                                          31 Jul-18     31 Jul-18 
(Returns in $USD)               Month        YTD              LTM 
Total return NAV development 
 per Share(1)                   0.3%        5.2%        13.0% 
NAV development per Share      (1.2%)       2.1%         9.7% 
 
 
   -- After declaring a $0.28 per Share dividend, 31 July 2018 NAV per Share of 
      $17.81 (GBP13.57) decreased $0.22 (GBP0.08) from $18.03 (GBP13.65) NAV 
      per Share at 30 June 2018 
 
 
   -- NBPE's NAV decrease of $10.7 million during the month of July included: 
 
 
   -- $13.7 million decrease, or $0.28 per share, from the accrual for the July 
      2018 declared dividend 
 
   -- $1.3 million of unrealised gains attributable to the receipt of new 
      valuation information, or $0.03 per share 
 
   -- $3.4 million of other unrealised gains, or $0.07 per share, attributable 
      to gains from public securities, realisations adjustments and 
      mark-to-market gains 
 
   -- $1.3 million of accrued cash and PIK interest from the income investment 
      portfolio, or $0.03 per share 
 
   -- $3.1 million decrease in NAV attributable to value changes to other 
      assets and liabilities during the month 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 31 July 2018 was 
based on the following information(2) : 
 
 
   -- 29% of the private equity fair value was valued as of 31 July 2018 
 
          -- 17% in private direct investments 
 
          -- 10% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 71% of the private equity fair value was valued as of 30 June 2018 
 
          -- 65% in private direct investments 
 
          -- 6% in fund investments 
 
   Portfolio Commentary 
 
   During July, NBPE invested $18.2 million into three new direct equity 
investments in GFL Environmental, a waste management company, in ZPG, a 
leading digital property data and software company, and in an 
undisclosed consumer technology company. 
 
   In terms of realisations, NBPE received $7.1 million from direct equity 
investments, of which $5.2 million was received from the sale of 
Warranty Group (in addition to stock consideration in Assurant, NYSE: 
AIZ) and $1.9 million was received from other partial realisations and 
escrow payments. Income investments distributed $12.6 million during the 
month, of which $11.5 million was received as a result of the exit of 
four income investments, including Linxens, Firstlight Fiber, P2 Energy 
and an undisclosed healthcare company. The remaining income investment 
realisations consisted of interest and principal receipts. Fund 
investments distributed $1.8 million during the month. 
 
   On 19 July 2018, NBPE declared a $0.28 per Share dividend, which 
represents an annualised 4.0% yield on share price and 3.1% yield on NAV, 
as of 30 June 2018. 
 
   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 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 $304 billion 
in client assets as of June 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 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 monthly 
report for a description of the Manager's valuation methodology. While 
some valuation data is as of 30 June 2018, the Manager's analysis and 
historical experience lead the Manager to believe that this approximates 
fair value at 31 July 2018. 
 
   Attachment 
 
 
   -- NBPE July Monthly 2018 
      https://prlibrary-eu.nasdaq.com/Resource/Download/32d3d77c-bc08-4d88-9458-079f67335751 
 
 
 
 
 

(END) Dow Jones Newswires

September 24, 2018 02:00 ET (06:00 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.