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

 
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 Publishes October 2020 NAV Update 
 
   16 November 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") estimate for the month ended 31 October 2020. 
 
   Key Highlights 
 
 
 
 
                                                   31 Oct-20  31 Oct-20 
(Returns in USD)                            Month        YTD        LTM 
Total return NAV development 
per Share(1)                                 4.5%       3.2%       4.9% 
NAV development per Share                    4.5%       0.0%       1.6% 
 
 
 
   -- NBPE's NAV increased by $38.6 million in October 2020 driven by: 
 
          -- $44.2 million of gains, or $0.94 per share, attributable to 
             private valuation increases 
 
          -- $3.6 million of unrealised losses, or $0.08 per share, primarily 
             attributable to unrealised negative foreign exchange adjustments 
             on non-USD investments, public valuations and other mark to market 
             adjustments 
 
          -- $2.8 million of expenses, $0.05 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 31 October 2020 was 
based on the following information(2) : 
 
 
   -- 13% of the private equity fair value was valued as of 31 October 2020 
 
          -- 7% in public securities 
 
          -- 6% in private direct debt investments 
 
   -- 43% of the private equity fair value was valued as of 30 September 2020 
 
          -- 43% in private direct equity investments 
 
   -- 1% of the private equity fair value was valued as of 31 July 2020 
 
          -- 1% in private direct equity investments 
 
   -- 43% of the private equity fair value was valued as of 30 June 2020 
 
          -- 42% in private direct equity investments 
 
          -- 1% in fund investments 
 
 
 
 
   Manager Commentary 
 
   During October, NBPE received $17.1 million of total realisations of 
which $14.3 million was from direct equity investments. This was driven 
by $7.9 million received from Final Site as a result of a partial sale 
of the company. In addition, NBPE received $6.4 million of other partial 
direct equity realisations, including $2.0 million from an undisclosed 
business services company, $1.6 million from the partial sale of public 
stock in Avantor (NYSE: AVTR), and $2.8 million from other partial 
realisations. The only new investments during the month were $0.6 
million of follow-on investments. 
 
   During October, NBPE received updated Q3 2020 private company valuation 
information which resulted in an aggregate net valuation increase of 
$44.2 million, or 4.7% relative to the prior month's direct equity 
portfolio valuation. Including changes in public valuations, FX and 
expenses during October, NBPE's NAV per share increased 4.5% during the 
month. Approximately 43% of the private company valuation information in 
this report remains as of 30 June 2020 which will be updated in the 
coming weeks as additional Q3 valuation information is received from 
underlying sponsors. 
 
   Investor Presentation 
 
   NBPE today published a new investor presentation. The updated investor 
presentation is attached and also available on NBPE's website at 
https://www.globenewswire.com/Tracker?data=mS78NuvXlygv26Wa2VRK7WHXcGDgGRTAtclrUMlSQBU7ZQdtruC8ZXdMFBTNFyygzxaClcxG8kQL1hJn5I-qUVj6efIJA_Ztq4gL9KnwSDK_zbwl6BvBi9hMGk_XhSPd-IvX80EwRLaG9V2Pi1oqpA== 
http://www.nbprivateequitypartners.com/. 
 
   For further information, please contact: 
 
   NBPE Investor Relations                     [phone] 
 
   Kaso Legg Communications              [phone] 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=TpQRP8CZhqLcIJvmaWfjvnZqHknQDWJIJljM8tgBVZnz02ava8AsScSkv110bia2U-CjrP9S7H2j6EU0TNPcQ6MxddJNkBtCwDm2gnb7vJjPoU6RspWiNYadhWQIk1rr 
[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 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=g0El2aLlnzHy3ULY3vCD9JUQ3Uo5wsfUCkE-HBBdpYy9uoNsGgLqXvGJHzKuaPlIMZPGfpl-6Yo1MDdZXYmzpMzRJBnx2PQpod094dvIKgc= 
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. 
 
   (2) Please refer to the valuation methodology section of the monthly 
report for a description of the Manager's valuation methodology. 43% of 
underlying valuation data is as of 30 June 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 October 2020. 
 
   Attachments 
 
 
   -- NBPE October Monthly NAV Update vF 
      https://ml-eu.globenewswire.com/Resource/Download/b1d41c4e-af64-4df9-ba3a-d60257952ce1 
 
 
   -- NBPE Investor Presentation - November 2020vF 
      https://ml-eu.globenewswire.com/Resource/Download/50d2d765-846a-4f73-b26f-75ea569bbf00 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

November 16, 2020 02:00 ET (07:00 GMT)

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