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

 
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 March 2019 
 
   25 April 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 March 2019. 
 
   Key Highlights 
 
 
   -- Monthly, year to date and LTM NAV development: 
 
   (Returns in $USD)                                                        Month              31 Mar-19        31 Mar-19 
 
 
   YTD                  LTM 
 
   Total return NAV development per Share(1)                        (0.5%) 
(0.7%)                6.6% 
 
   NAV development per Share 
(0.5%)                    (0.9%)                3.4% 
 
 
   -- 31 March 2019 NAV per Share of $17.71 (GBP13.59) decreased $0.09 
      (GBP0.21) from $17.80 (GBP13.38) re-stated NAV per Share at 28 February 
      2019 
 
   -- NBPE's NAV decrease of $4.2 million during the month of March included: 
 
          -- $2.2 million decrease in NAV primarily attributable to management 
             and other fee accruals offset by a net decrease in the 
             USD-denominated ZDP liability (netted against changes in the 
             forward currency contract) 
 
          -- $3.8 million, or $0.08 per share, of unrealised negative foreign 
             exchange adjustments on non-USD investments 
 
          -- $1.1 million of other unrealised gains, or $0.02 per share, 
             attributable to gains from public securities, realisation 
             adjustments and mark-to-market adjustments 
 
          -- $1.1 million of accrued cash and PIK interest from the income 
             portfolio, or $0.02 per share 
 
          -- $0.3 million of unrealised losses attributable to the receipt of 
             new valuation information, or $0.01 per share 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 31 March 2019 was 
based on the following information(2) : 
 
 
   -- 17% of the private equity fair value was valued as of 31 March 2019 
 
          -- 9% in private direct investments 
 
          -- 7% in public securities 
 
          -- 1% in fund investments 
 
   -- 83% of the private equity fair value was valued as of 31 December 2018 
 
          -- 80% in private direct investments 
 
          -- 3% in fund investments 
 
   Portfolio Commentary 
 
   During March, NBPE completed one new investment, in HUB International, 
an insurance brokerage company. NBPE also completed a follow-on 
investment in GFL Environmental, an environmental services company. NBPE 
received $10.5 million of distributions, of which $7.4 million was 
received from direct equity investments.  This consisted primarily of 
realisation proceeds from the sale of Assurant (NYSE: AIZ) stock; 
additional proceeds are expected in the coming weeks related to this 
sale, at which point NBPE will have fully exited its investment. Other 
proceeds from direct equity investments consisted of dividends. Income 
investments distributed $2.1 million to NBPE during the month, which 
consisted of interest and principal receipts. Fund investments 
distributed $1.1 million and now account for only 4% of total private 
equity fair value. 
 
   For further information, please contact: 
 
   NBPE Investor Relations           [phone] 
 
   Kaso Legg Communications      [phone] 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=967dJXTsDLzSq4XKFkcnFe4kOEcQjOyRKUOTWqK5klmckY6gXRtcw_Tzd5q8lW9WVB31OqBmSO3jt9UNe4RwAsekvGs0SK7BtvJAf4o_5pmLEdz_7312h46QfV--TQcO 
[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 23 countries, 
Neuberger Berman's team is more than 2,100 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 has built a diverse team of individuals 
united in their commitment to delivering compelling investment results 
for our clients over the long term. That commitment includes active 
consideration of environmental, social and governance factors. The firm 
manages $323 billion in client assets as of March 31, 2019. 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, the Manager's analysis 
and historical experience lead the Manager to believe that this 
approximates fair value at 31 March 2019. 
 
 
 
   Attachment 
 
 
   -- NBPE March Monthly 2019 
      https://ml-eu.globenewswire.com/Resource/Download/9bec0b70-f025-4995-80cd-f39517f2e586 
 
 
 
 
 

(END) Dow Jones Newswires

April 25, 2019 02:00 ET (06:00 GMT)

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