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
  -15.00 -1.35% 1,095.00 1,095.00 1,100.00 1,115.00 1,095.00 1,105.00 87,111 15:00:36
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments - - - - 514

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

16/07/2019 7:01am

UK Regulatory (RNS & others)


 
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 June 2019 
 
   16 July 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 30 June 2019. 
 
   Key Highlights 
 
 
   -- Monthly, year to date and LTM NAV development: 
 
 
 
 
                                      30 Jun-19  30 Jun-19 
(Returns in $USD)              Month     YTD        LTM 
Total return NAV development 
 per Share                      1.6%       6.4%       7.1% 
NAV development per Share       1.6%       4.8%       3.8% 
 
 
   -- 30 June 2019 NAV per Share of $18.72 (GBP14.71) increased  $0.29 
      (GBP0.09) from $18.43 (GBP14.62) 31 May 2019 NAV per Share 
 
   -- NBPE's NAV increased by $9.0 million, driven by: 
 
          -- $7.1 million of unrealised gains attributable to the receipt of 
             new valuation information, or $0.15 per share 
 
          -- $6.1 million of other unrealised gains, or $0.13 per share, 
             primarily attributable to unrealised gains from public securities 
 
          -- $5.9 million decrease in NAV primarily attributable to management 
             and other fee accruals and increases in the USD denominated ZDP 
             liability 
 
          -- $4.3 million, or $0.09 per share, of unrealised positive foreign 
             exchange adjustments on non-USD investments 
 
          -- $3.5 million of cash used for share buybacks 
 
          -- $1.0 million of accrued cash and PIK interest from the income 
             portfolio, or $0.02 per share 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 30 June 2019 was 
based on the following information: 
 
 
   -- 16% of the private equity fair value was valued as of 30 June 2019 
 
          -- 9% in private direct investments 
 
          -- 7% in public securities 
 
   -- 1% of the private equity fair value was valued as of 31 May 2019 
 
          -- 1% in fund investments 
 
   -- 83% of the private equity fair value was valued as of 31 March 2019 
 
          -- 80% in private direct investments 
 
          -- 3% in fund investments 
 
   ([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 May 2019 and 31 March 2019, the 
Manager's analysis and historical experience lead the Manager to believe 
that this approximates fair value at 30 June 2019. 
 
   Portfolio Commentary 
 
   Approximately 83% of the private company valuation information in this 
monthly NAV estimate is as of 31 March 2019; 30 June 2019 valuation 
information is expected over the coming weeks and will be incorporated 
into NBPE's semi-annual report. 
 
   During June, NBPE received $5.5 million from direct equity investments, 
which consisted primarily of a distribution from Qpark. The remaining 
direct equity proceeds consisted of partial realisations and an escrow 
release from the sale of Standard Aero. Income investments distributed 
$4.2 million, of which $3.6 million was received from the NB Credit 
Opportunities Program as a result of several realisations. The remaining 
proceeds consisted of interest and principal receipts from other debt 
securities. 
 
   Another notable portfolio event during the month was the IPO of Chewy 
(NYSE: CHWY), a subsidiary of Petsmart; the valuation of Petsmart was 
based on updated valuation information following the IPO. Also during 
June, NBPE repurchased 250,000 shares at a weighted average discount to 
NAV of 25%, which was accretive to NAV per Share by $0.04. 
 
   For further information, please contact: 
 
   NBPE Investor Relations           +1 214 647 9593 
 
   Kaso Legg Communications      +44 (0)20 3603 2803 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=mCiH0dDvKDfW44pScLhuMYYblqCil6sfg138KuiZ7mRk1Wr-nG6kD_U9fOhKOzOXwd1sT7T05VRKl-k6ev23k6PWSUbuyLFo8Qn3QESZEgITO0RB-Y9i5IaiqGBDK6CP 
nbpe@kl-communications.com 
 
   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. 
 
   Attachment 
 
 
   -- NBPE June Monthly 2019 
      https://ml-eu.globenewswire.com/Resource/Download/49b2ea60-1aaa-4891-9695-e76da2e671be 
 
 
 
 
 

(END) Dow Jones Newswires

July 16, 2019 02:01 ET (06:01 GMT)

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

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