Share Name Share Symbol Market Type Share ISIN Share Description
Nb Private Equity Partners Limited 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
  +12.50p +1.10% 1,150.00p 1,150.00p 1,160.00p 1,155.00p 1,135.00p 1,140.00p 156,814 16:20:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments - - - - 560

NB Private Equity Partners Limited Nb Private Equity: Q1 2019 Quarterly Report And Re-stated April Nav

06/06/2019 7:00am

UK Regulatory (RNS & others)

   NB Private Equity Partners Publishes Q1 2019 Quarterly Report and 
Re-stated April NAV 
   6 June 2019 
   NB Private Equity Partners Limited ("NBPE" or the "Company"), a 
closed-end private equity investment company, today releases its 31 
March 2019 Quarterly Report and Re-stated April NAV. Key highlights and 
commentary are below and the complete Quarterly Report can be found on 
the Company's website at 
   Key Highlights 
   -- Year to date NAV development: 
                               31 Mar-19    30 Apr-19 
(Returns in $USD)                 YTD      Re-stated YTD 
Total return NAV development 
 per Share(1)                       4.5%            5.6% 
NAV development per Share           2.9%            3.9% 
   -- Including the new private valuation information contained in the First 
      Quarter Report, 30 April 2019 NAV per Share (re-stated) is $18.57, which 
      is an increase of $0.64 or 3.6%, from the originally published 30 April 
      2019 monthly NAV estimate of $17.93 
          -- 30 April 2019 year to date total return is 5.6%, based on the 
             re-stated April NAV 
          -- 30 April 2019 LTM total return is 11.1% 
   -- Within the First Quarter Report, 31 March 2019 Net Asset Value ("NAV") 
      per Share of $18.39 (GBP14.11) increased $0.52 (GBP0.08) from $17.87 
      (GBP14.03) NAV per Share at 31 December 2018 
          -- 31 March 2019 NAV per Share increased $0.68 per Share, or 3.8% 
             from the originally published 31 March 2019 monthly NAV estimate 
          -- 31 March 2019 LTM total return is 10.7% 
   -- Year to date, through 31 March 2019, the NAV per Share increase of $22.7 
      million was driven by: 
          -- $46.8 million of unrealised & realised net gains primarily 
             attributable to the receipt of new valuation information, or $0.96 
             per share 
          -- $15.7 million returned to shareholders of which $13.6 million, or 
             $0.28 was paid through a dividend, and $2.1 million was returned 
             via share buybacks, resulting in NAV per share accretion of $0.01 
          -- $10.5 million decrease in NAV primarily attributable to financing 
             costs, management fee, carried interest accrual and other fee 
          -- $3.6 million of accrued cash and PIK interest from the income 
             portfolio, or $0.07 per share 
          -- $1.4 million, or $0.03 per share, of unrealised negative foreign 
             exchange adjustments on non-USD investments 
   Portfolio Valuation 
   The value of NBPE's private equity portfolio as of 31 March 2019 was 
based on the following information(2) : 
   -- 100% of the private equity fair value was valued as of 31 March 2019 
          -- 93% in private direct investments 
          -- 7% in public securities 
   Portfolio Commentary through 30 April 2019 
   -- Performance: Total return NAV gain of 5.6% through 30 April 2019 driven 
      by direct equity investments 
   -- Exit Activity: Proceeds received from the exit of Berlin Packaging, final 
      sale of Assurant stock, and the full sale of Standard Aero equity, which 
      in aggregate over their lives generated a 2.3x gross multiple of invested 
      capital and 21% gross IRR. NBPE also exited three income investments; 
      Epic Insurance, Digital River and Standard Aero, which in aggregate 
      generated a 1.3x multiple of invested capital and 14.6% IRR 
   -- New Investments: $25.1 million invested in two new direct equity 
   For further information, please contact: 
   NBPE Investor Relations               +1 214 647 9593 
   Kaso Legg Communications         +44 (0)20 3603 2803 
   Charles Gorman                       
   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 
   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 
   (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. 
   -- NBPE Q1 2019 Report 

(END) Dow Jones Newswires

June 06, 2019 02:00 ET (06:00 GMT)

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

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