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NBPE Nb Private Equity Partners Limited

1,610.00
-12.00 (-0.74%)
Last Updated: 14:42:10
Delayed by 15 minutes
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
  -12.00 -0.74% 1,610.00 1,610.00 1,640.00 1,640.00 1,610.00 1,612.00 8,409 14:42:10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 55.72M -108.95M -2.3419 -6.87 748.99M

NB Private Equity Partners Limited Nb Private Equity: Monthly Nav Update - February 2020

16/03/2020 7:00am

UK Regulatory


 
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 February 
2020 
 
   16 March 2020 
 
   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 29 February 2020. 
 
   Key Highlights 
 
   --Monthly, year to date and LTM NAV development: 
 
 
 
 
                                      29 Feb-20  29 Feb-20 
(Returns in USD)               Month     YTD        LTM 
Total return NAV development 
 per Share(1)                   0.1%       0.1%       7.7% 
NAV development per Share       0.1%      -1.5%       4.4% 
 
 
   -- 29 February 2020 NAV per Share of $18.59 (GBP14.56) increased $0.01 
      (GBP0.46) per share from $18.58 (GBP14.10) 31 January 2020 NAV per Share 
 
   -- NBPE's NAV increased by $0.2 million, driven by: 
 
          -- $9.1 million increase, $0.20 per share, attributable to private 
             valuation increases (due to new information received which is as 
             of 31 December 2019) 
 
          -- $8.2 million of unrealised losses, $0.17 per share, primarily 
             attributable to unrealised negative public valuations, foreign 
             exchange adjustments on non-USD investments, and other mark to 
             market adjustments 
 
          -- $1.5 million of losses, $0.04 per share, attributable to 
             management and other fee accruals, and credit facility interest 
             and expenses 
 
          -- $0.8 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 29 February 2020 was 
based on the following information(2) : 
 
 
   -- 14% of the private equity fair value was valued as of 29 February 2020 
 
          -- 8% in private direct investments 
 
          -- 6% in public investments 
 
   -- 2% of the private equity fair value was valued as of 31 January 2020 
 
          -- 2% in private direct investments 
 
   -- 44% of the private equity fair value was valued as of 31 December 2019 
 
          -- 42% in private direct investments 
 
          -- 2% in fund investments 
 
   -- 2% of the private equity fair value was valued as of 30 November 2019 
 
          -- 2% in private direct investments 
 
   -- 38% of the private equity fair value was valued as of 30 September 2019 
 
          -- 37% in private direct investments 
 
          -- 1% in fund investments 
 
 
 
   Portfolio Commentary 
 
   During February, NBPE funded $14.1 million to new and follow-on 
investments, of which $7.6 million was funded into a direct equity 
investment in the consumer sector, and $6.5 million was funded to the NB 
Alternatives Credit Opportunities Program. NBPE received $2.5 million of 
realisations, including $1.4 million from partial realisations of direct 
equity investments, and $1.1 million from income investments consisting 
primarily of principal and interest receipts. 
 
   Please note that we are still aggregating year end portfolio valuation 
information and approximately 44% of the total portfolio and 48% of the 
direct equity portfolio's valuation information in this monthly 
statement are as of 31 December 2019, with 14% of the valuation 
information as of 29th February 2020. It is too early to assess the 
specific impact that the Covid-19 (Coronavirus) pandemic will have on 
NBPE's diversified portfolio, but we are monitoring the situation as 
closely as possible and will report more to you in this regard as soon 
as is practically possible. 
 
   NBPE paid its first 2020 semi-annual dividend payment of $0.29 per 
Ordinary Share on 28 February 2020. In line with its long term dividend 
policy of targeting an annualised dividend yield of 3.0% or greater on 
NAV, this payment represents a yield of 3.1% on 29 February 2020 NAV. 
 
   For further information, please contact: 
 
   NBPE Investor Relations                     +1 214 647 9593 
 
   Kaso Legg Communications              +44 (0)20 3995 6673 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=y4FoC14dmsBAV4rYGd28Fp99Ombb2Niy11Tv2GOfWgzSE3Sl_pcQxogtHxwbRBnXy2WKbteuT0fIF0H8fCqp8JXDqsKkBQR8hyUuwFZKOzSljbwJY49OCvxeGU2cVqAw 
nbpe@kl-communications.com 
 
   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 2,200 
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 
$356 billion in client assets as of December 31, 2019. For more 
information, please visit our website at www.nb.com. 
 
   (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 January 2020, 31 December 2019, 30 
November 2019, and 30 September 2019, the Manager's analysis and 
historical experience lead the Manager to believe that this approximates 
fair value at 29 February 2020. 
 
   Attachment 
 
 
   -- NBPE February Monthly 2020 
      https://ml-eu.globenewswire.com/Resource/Download/aed06ee5-7a36-4a33-a117-aaac343b82fc 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

March 16, 2020 03:00 ET (07:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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