Nb Private Equity Partners Share Discussion Threads

[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 09:31

We have sailed past £17.

[skyship] 22/10/2021 09:10

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.

[killing_time] 22/10/2021 07:10

NAV up 4.8% month on month.

[skyship] 20/10/2021 16:08

Indeed - very nice!
===================

NBPE Portfolio Company Autostore Announces Completion of its IPO

20 October 2021

NB Private Equity (NBPE), the $1.3bn listed private equity investment company managed by Neuberger Berman, notes that it's second largest underlying portfolio company position(1) , Autostore, an investment made alongside THL Partners, has announced the successful completion of its initial public offering (IPO) on the Oslo Børs at NOK 31 per share, implying a market capitalisation of approximately NOK 103.5 billion.

Based on the announced IPO price 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.

[killing_time] 20/10/2021 15:09

RNS out, bit more added to the NAV.

I make that one deal as adding 3.78% to the NAV.

[skyship] 20/10/2021 11:00

Absolutely - happily got a full allocation here.

IMO ICGT will be the next one to pop - posted on the ICGT & PE threads about that one yesterday.

[essentialinvestor] 18/10/2021 11:00

Should get a NAV update this week.

[essentialinvestor] 15/10/2021 13:09

Above £16 now and hopefully heading past the recent £16.30 plus high.

[essentialinvestor] 08/10/2021 12:57

Director buying.

[essentialinvestor] 07/10/2021 18:03

As NBPE have highlighted the potential for more near term exits and particularly given the premium to carrying value that recent exits have sold on, the current SP
still looks very cheap. On the proviso markets remain supportive, something
closer to £17 may be very doable.

[skyship] 07/10/2021 14:01

Also buying PIN. At 2845 they are now on a discount of 26.7% - crazily high figure, especially as (same with NBPE) the next monthly discount will reflect further FX gains.

[skyship] 07/10/2021 11:52

Indeed. Happy to have bought more yesterday @ 1533...