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

 
TIDMNBPE 
 
 
   23 December 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 November 2019. 
 
   Key Highlights 
 
   --Monthly, year to date and LTM NAV development: 
 
 
 
 
                                      30 Nov-19  30 Nov-19 
(Returns in USD)               Month     YTD        LTM 
Total return NAV development 
 per Share(1)                   0.5%       9.0%       9.1% 
NAV development per Share       0.5%       5.7%       5.8% 
 
 
   -- 30 November 2019 NAV per Share of $18.89 (GBP14.61) increased $0.09 
      (GBP0.07) from $18.80 (GBP14.54) 31 October 2019 NAV per Share 
 
   -- NBPE's NAV increased by $4.1 million, driven by: 
 
          -- $6.4 million of unrealised gains, or $0.14 per share, primarily 
             attributable to private valuation increases 
 
          -- $0.8 million of accrued cash and PIK interest from the income 
             portfolio, or $0.02 per share 
 
          -- $3.0 million of losses, or $0.06 per share, attributable to 
             management and other fee accruals 
 
          -- $0.1 million of unrealised losses attributable to unrealised 
             positive foreign exchange adjustments on non-USD investments 
 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 30 November 2019 was 
based on the following information(2) : 
 
 
   -- 15% of the private equity fair value was valued as of 30 November 2019 
 
          -- 9% in private direct investments 
 
          -- 6% in public securities 
 
   -- 1% of the private equity fair value was valued as of 31 October 2019 
 
          -- 1% in private direct investments 
 
   -- 84% of the private equity fair value was valued as of 30 September 2019 
 
          -- 81% in private direct investments 
 
          -- 3% in fund investments 
 
 
   Portfolio Commentary 
 
   During November, NBPE funded $18.4 million to direct equity investments, 
of which $13.2 million was to a new investment in BCA Marketplace, which 
is a used vehicle marketplace, and $5.0 million to a new investment in 
Bartaco / Barcelona Wine Bar, a US restaurant chain with locations 
across twelve states. Direct equity investments distributed $7.3 million 
during the month of which $6.4 million was received from a partial 
realisation of Agiliti. NBPE also received $0.7 million from interest 
and principal receipts from income investments. During November the sale 
of LGC, a 2016 equity investment led by KKR, was announced. The sale is 
expected to close in the first quarter of 2020, but the investment's 
valuation was marked up in the November monthly NAV update to reflect 
the expected sale proceeds less a small discount. 
 
   For further information, please contact: 
 
   NBPE Investor Relations                     [phone] 
 
   Kaso Legg Communications                [phone] 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=bZJWKX-oRubVRu_iD1sKcCbVst8fldQMcy4pXp2Rlz7WgU_hjN5WQ_VE5G3COsZyYW2Ix4HILHQG-7mRF7OrdCJGi-G5dvHfgd3-Y0X_04VqCLVjEBBtVN_AIqEbAeB5 
[e-mail] 
 
   About NB Private Equity Partners Limited 
 
   NBPE invests in direct private equity investments alongside market 
leading private equity firms globally. NB Alternatives Advisers LLC (the 
"Investment Manager"), an indirect wholly owned subsidiary of Neuberger 
Berman Group LLC, is responsible for sourcing, execution and management 
of NBPE. The vast majority of direct investments are made with no 
management fee / no carried interest payable to third-party GPs, 
offering greater fee efficiency than other listed private equity 
companies. NBPE seeks capital appreciation through growth in net asset 
value over time while paying a bi-annual dividend. 
 
   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, real estate and hedge funds--on behalf of 
institutions, advisors and individual investors globally. With offices 
in 23 countries, Neuberger Berman's diverse team has 2,100 
professionals. For six 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). The firm 
was awarded an A+ in every category in the latest 2019 PRI report for 
our approach to ESG integration across asset classes. The firm manages 
$339 billion in client assets as of September 30, 2019. For more 
information, please visit our website at www.nb.com. 
 
   Attachment 
 
 
   -- NBPE November Monthly 2019 
      https://ml-eu.globenewswire.com/Resource/Download/272a6f8f-13e0-4220-a2f4-7a6e42210426 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

December 23, 2019 02:00 ET (07:00 GMT)

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