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NBPE Nb Private Equity Partners Limited

1,640.00
18.00 (1.11%)
Last Updated: 11:45:46
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
  18.00 1.11% 1,640.00 1,606.00 1,640.00 1,640.00 1,612.00 1,612.00 5,401 11:45:46
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 55.72M -108.95M -2.3419 -6.88 749.92M

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

13/01/2021 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 
 
   NBPE Announces December Monthly NAV Update 
 
   13 January 2021 
 
   NB Private Equity Partners Limited ("NBPE" or the "Company"), a 
closed-end private equity investment company, today announces an updated 
Net Asset Value ("NAV") estimate for the month ended 31 December 2020. 
 
   Key Highlights 
 
   --The table below summarises the monthly and YTD NAV performance through 
31 December 2020(1) . These full year return data will be updated as 
year end valuations from underlying private investments are received in 
the coming months. 
 
 
 
 
                                      31 Dec-20 
(Returns in USD)               Month     YTD 
Total return NAV development 
 per Share                      0.5%      10.8% 
NAV development per Share       0.5%       7.4% 
 
 
   -- 31 December 2020 NAV growth of $5.2 million, or $0.11 per share, relative 
      to the 30 November 2020 NAV driven by: 
 
          -- $9.7 million of unrealised gains, or $0.21 per share, primarily 
             attributable to public valuations, positive foreign exchange 
             adjustments on non-USD investments and other mark to market 
             adjustments 
 
          -- $4.3 million of expenses, $0.10 per share, attributable to 
             management fee and carried interest accruals, ZDP interest and net 
             loss on ZDP FX, credit facility interest and other expenses 
 
          -- $0.6 million, or $0.01 per share, of unrealised losses from 
             additional private valuation information 
 
          -- $0.3 million of accrued cash and PIK interest from the income 
             portfolio, or $0.01 per share 
 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 31 December 2020 was 
based on the following information(2) : 
 
 
   -- 18% of the private equity fair value was valued as of 31 December 2020 
 
          -- 12% in public securities3 
 
          -- 6% in private direct debt investments 
 
   -- 82% of the private equity fair value was valued as of 30 September 2020 
 
          -- 81% in private direct equity investments 
 
          -- 1% in fund investments 
 
 
 
 
   Manager Commentary 
 
   During the month of December, NBPE experienced significant liquidity 
from its portfolio, with approximately $60.9 million of proceeds 
received as a result of multiple liquidity events. As previously 
announced on 16 December 2020, NBPE received $49.3 million from the 
successful exit of ProAmpac consisting of $43.3 million of equity 
proceeds and $6.0 million from the exit of NBPE's second lien debt 
position. NBPE also re-invested $4.9 million of equity into ProAmpac 
which the Manager believes continues to represent an attractive 
investment opportunity. NBPE received $6.3 million of additional 
distributions from direct equity investments consisting of $5.5 million 
from the sale of public stock positions and $0.8 million of other 
partial realisations. In addition, NBPE received $4.7 million of 
realisations from fund investments consisting primarily of liquidation 
proceeds from NB Crossroads Fund XVIII. 
 
   As a result of the strong realisation activity during the month, NBPE 
paid down $50 million of the credit facility and had $35 million drawn 
as of 31 December 2020. 82% of valuations remain based on private 
valuation information as of 30 September 2020 and updated Q4 information 
is expected over the coming weeks and will be incorporated into future 
monthly statements as received. NBPE expects to issue its Annual 
Financial Report in April 2021. 
 
   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=uChGIbNWIZd6rlmdfEAlwno-be_a0PPkS-A5SarP-ah2y4e5DnOD6PMdZIws22rwWvRfXQibkUIsTwif4hOwjCYce_WBohHLQNgZBxBsfy67IPf4p33KYYFt2bxwnxD3 
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 24 countries, Neuberger Berman's diverse team has over 2,300 
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). In 2020, 
the 
https://www.globenewswire.com/Tracker?data=y65xSg_e568M3zQLOyyr4l0cUr9wj04QbKw1-8B1TjGw_yVQBZWRKDq1jcgy3B_DK1Uo7TvdbrINlWQP19H78m84PkDqLfMB21Jr2RLrZiY= 
PRI named Neuberger Berman a Leader, a designation awarded to fewer than 
1% of investment firms for excellence in Environmental, Social and 
Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ 
in every eligible category for our approach to ESG integration across 
asset classes. The firm manages $374 billion in client assets as of 
September 30, 2020. 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. 
 
   (1) Assumes reinvestment of dividends on the ex-dividend date and 
reflects cumulative returns over time period shown. GBP NAV total return 
for the monthly and YTD periods are -1.8% and 7.5%, respectively; GBP 
NAV return for the monthly and YTD periods are -1.8% and 4.2%, 
respectively. 
 
   (2) Please refer to the valuation methodology section of the monthly 
report for a description of the Manager's valuation methodology. 82% of 
underlying valuation data is as of 30 September 2020. Given the current 
market / economic environment the Manager notes that while this 
valuation data may be stale, it remains the best estimate we are 
currently able to provide but may not accurately reflect the fair value 
at 31 December 2020. 
 
   (3) Includes Petsmart / Chewy as value is predominantly impacted by the 
public value of Chewy. 
 
   Attachment 
 
 
   -- NBPE December Monthly NAV Update vF 
      https://ml-eu.globenewswire.com/Resource/Download/a1bdbf6b-4e75-463b-9e97-cc7c218675ea 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

January 13, 2021 02:00 ET (07:00 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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