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
  5.00 0.45% 1,125.00 1,110.00 1,125.00 1,125.00 1,125.00 1,125.00 25,646 15:31:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments - - - - 529

NB Private Equity Partners Limited Nb Private Equity: Monthly Nav Update - August 2019

26/09/2019 7:00am

UK Regulatory (RNS & others)

   NB Private Equity Partners Announces Monthly 
   NAV Update for August 2019 
   26 September 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 August 2019. 
   Key Highlights 
   -- Monthly, year to date and LTM NAV development: 
                                       31 Aug-19  31 Aug-19 
(Returns in $USD)              Month      YTD        LTM 
Total return NAV development 
 per Share(1)                  (0.2%)       7.4%       7.8% 
NAV development per Share      (0.2%)       4.1%       4.5% 
   -- 31 August 2019 NAV per Share of $18.61 (GBP15.28) decreased $0.03 
      (GBP0.05) from $18.64 (GBP15.23) 31 July 2019 NAV per Share (re-stated) 
   -- NBPE's NAV decreased by $1.7 million, driven by: 
          -- $4.9 million of unrealised gains attributable to the receipt of 
             new valuation information 
          -- $3.5 million, or $0.07 per share, of unrealised negative foreign 
             exchange adjustments on non-USD investments 
          -- $2.1 million of unrealised losses, or $0.04 per share, primarily 
             attributable to public securities 
          -- $1.9 million net decrease in NAV primarily attributable to changes 
             in other assets and liabilities 
          -- $0.9 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 31 August 2019 was 
based on the following information(2) : 
   -- 14% of the private equity fair value was valued as of 31 August 2019 
          -- 9% in private direct investments 
          -- 6% in public securities 
   -- 3% of the private equity fair value was valued as of 31 July 2019 
          -- 3% in private direct investments 
   -- 78% of the private equity fair value was valued as of 30 June 2019 
          -- 78% in private direct investments 
          -- 4% in fund investments 
   Portfolio Commentary 
   During August, NBPE completed a new direct equity investment in Exact 
Software, an ERP software company. NBPE received $4.6 million during the 
month from income investments, consisting primarily of additional 
proceeds related to the previously announced realisation of NBPE's 
Avantor PIK Preferred security. NBPE also received $1.7 million of 
distributions from direct equity investments, most notably dividends 
from Hivory and QPark. Private company valuation information is fully 
updated in the below NAV estimate to reflect updated second quarter 
marks from underlying sponsors and one company, Hilsinger, is valued 
based on exit proceeds received in early September. 
   On 30 August 2019, NBPE paid a dividend of $0.29 per Share. On an 
annualised basis this dividend payment results in a 3.1% yield on NAV 
and 4.3% yield based on the 30 August 2019 closing share price of 
   For further information, please contact: 
   NBPE Investor Relations           +1 214 647 9593 
   Kaso Legg Communications      +44 (0)20 3995 6673 
   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 $333 billion in client assets as of June 30, 2019. For more 
information, please visit our website at 
   (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 July 2019 and 30 June 2019, the 
Manager's analysis and historical experience lead the Manager to believe 
that this approximates fair value at 31 August 2019. 
   -- NBPE August Monthly 2019 

(END) Dow Jones Newswires

September 26, 2019 02:00 ET (06:00 GMT)

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

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