Nb Private Equity Partners Share Discussion Threads

[chc15] 21/1/2022 12:45

Autostore getting battered, will drop further if this tech fall continues.

[riverman77] 21/1/2022 11:43

Bought back in - sell off look way overdone. A further fall in Autostore shares price and general market weakness this month means NAV may fall a bit this month - but nothing to justify a 12% drop fall in share price this year.

[aishah] 20/1/2022 11:07

Why is this on such a wide discount to NAV?

[chc15] 19/1/2022 09:37

Although ex div tomorrow, so prob fall further..

[chc15] 19/1/2022 09:32

Be watching this, maybe a good time to buy in? Autostore been hit this week.

[riverman77] 13/1/2022 13:56

I guess December itself was a bit soft with NAV down around 2%. This came after a stunning year but I guess this was already priced in. The NAV fall seem to have been driven by a steep fall in the Autostore share price in December, which is their biggest single position (around 7%). Autostore not fallen further since then so that's good news.

[cwa1] 13/1/2022 13:37

It was the URL that wasn't the catchiest, not the RNS itself I fancy...

[ali47fish] 13/1/2022 13:02

what do you mean not the catchiest-thought the numbers were good unless all this is already baked into the price- so why the retrace?

[spangle93] 13/1/2022 07:49

Not the catchiest URL



But 41% NAV increase in a year (to £22.71) and a dividend hike of 15% on August (to 47c) isn't too shabby

14 full and partial realisations in 2021 at an aggregate 83 % uplift to carrying value at 31 December 2020 and a 3. 3x multiple of cost

[skyship] 03/1/2022 09:25

Link to the recent EDISON research now in the Header

[madmix] 29/12/2021 18:56

Any idea what %age of NAV is our exposure to Autostore?

Edit: Found the answer above.

"Based on the announced IPO price (NOK 31) and current foreign exchange rate(2) , NBPE's holding in Autostore would be valued at $130.6 million, a $54.6 million uplift ($1.08 net NAV per share uplift) to the 31 August 2021 vaulation of $76.0 million. The Autostore valuation will be updated in the 30 September 2021 Fact Sheet which will be released in the coming days. A minority proportion of NBPE's holding was sold in the IPO."

[skyship] 29/12/2021 16:36

Autostore dropped below E3.00; but has made a good recovery. Now at E3.70 - up 19% today.

[rik shaw] 21/12/2021 15:41

Thanks for the link above which I followed through and found a more direct link:


It's certainly packed full of information and insight to investment trusts including the PE ones.

[donald pond] 15/12/2021 10:38

Yes it was. But it takes us an inordinate amount of time in U.K. to change anything Btw, investment trust followers should read this very good resource, free to download and highly recommended https://twitter.com/moneymakersits/status/1470671504073531393?s=21

[donald pond] 15/12/2021 09:48

Normally if you can't buy a fund it's because it's on the specialist section of the LSE and the broker/platform (thinks it) doesn't have the KIID (which itself is so misleading that the commentator John Kay said they should come with a warning "Burn before reading")

[hawaly] 15/12/2021 09:30

Why iWeb account says "we no longer allow investment in this stock" when I try to buy.

Anyone any ideas as to why this is?

HVPE is fine.

Thanks.

GLA 😎

[donald pond] 15/12/2021 09:17

I don't have NBPE, but it's next on my buy list. Very well managed. MVI on the other hand an example of why cheap, in itself, isn't reason enough to invest (see also TFG)

[toffeeman] 15/12/2021 09:10

13 Dec MVI

As at 30 November 2021 the closing mid share price of an ordinary share in the Company was GBP1.1050 and represented a discount of 37.85% to the net asset value per ordinary share.

[donald pond] 15/12/2021 08:42

This from Jeffries:InsightsNAV: NBPE announced a NAV per share of $31.34 as at 30/11/21. This reflects a 3% increase from the October NAV driven by 43% of the portfolio valuation moving from Q2 to Q3 marks, but also a write-up to Kroll, and further strength in the listed Autostore. Unfortunately, the latter fell 13% yesterday on the back of a negative outcome on the patent lawsuit with Ocado. Marking to market this and the other larger listed holdings (GFL, Agiliti, Chewy, etc) and adjusting for the ZDP accrual, the cash yield on the debt investments, and costs, our estimated NAV becomes $30.41, to which the shares currently trade on a 20.6% discount.

[spangle93] 14/12/2021 08:33

Thanks for the headsup, skyship

Curious - the RNS wasn't listed on investegate this morning

[skyship] 14/12/2021 08:13

Yet another fantastic monthly NAV performance by NBPE. November UP 3%; this combined with the stronger $ takes the NAV up to 2369p so at the offer price of 1810p the discount shoots back up to 23.6%. Clearly under-valued yet again, share price not keeping up with events.

[killing_time] 05/11/2021 09:50

£18 now hit.

The discount on the NAV has been closing rapidly from -25 in October to -18 this morning.

We are still lagging CLDN,HVPE,ICGT and PIN which are a few % less cheap.

Private Equity on a good roll, wondering how much these discounts will close to the share price

[essentialinvestor] 27/10/2021 08:31

We have sailed past £17.

[skyship] 22/10/2021 08:10

Two trusts announced their September stats this morning:

# NBPE: + 4.8% (+35.9% YTD)

# PIN: + 2.0% (+28.0% YTD)

Pretty dramatic performances, yet they languish on respectively 24.9% & 25.1% discounts!

Clearly both are undervalued and should see good rises in short order.