NBPE Nb Private Equity Partners Limited

 
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 July 2019 
 
   14 August 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 July 2019. 
 
   Key Highlights 
 
 
   -- Monthly, year to date and LTM NAV development: 
 
 
 
 
                                       31 Jul-19  31 Jul-19 
(Returns in $USD)              Month      YTD        LTM 
Total return NAV development 
 per Share(1)                  (0.7%)       5.7%       6.0% 
NAV development per Share      (2.2%)       2.4%       2.8% 
 
 
   -- After the $0.29 per Share accrual related to the August 2019 dividend 
      payment, 31 July 2019 NAV per Share of $18.30 (GBP14.95) decreased $0.42 
      (GBP0.24) from $18.72 (GBP14.71) 30 June 2019 NAV per Share 
 
   -- NBPE's NAV decreased by $19.4 million, driven by: 
 
          -- $13.6 million, or $0.29 per share, accrual related to the dividend 
             payable on 30 August 2019 
 
          -- $3.9 million, or $0.08 per share, of unrealised negative foreign 
             exchange adjustments on non-USD investments 
 
          -- $2.9 million of unrealised losses, or $0.05 per share, primarily 
             attributable to unrealised gains from public securities 
 
          -- $0.1 million of unrealised losses attributable to the receipt of 
             new valuation information 
 
          -- $0.2 million net increase 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 July 2019 was 
based on the following information(2) : 
 
 
   -- 18% of the private equity fair value was valued as of 31 July 2019 
 
          -- 11% in private direct investments 
 
          -- 7% in public securities 
 
   -- 12% of the private equity fair value was valued as of 30 June 2019 
 
          -- 11% in private direct investments 
 
          -- 1% in fund investments 
 
   -- 70% of the private equity fair value was valued as of 31 March 2019 
 
          -- 67% in private direct investments 
 
          -- 3% in fund investments 
 
   Portfolio Commentary 
 
   During July, NBPE funded approximately $30.0 million to two new direct 
equity investments in Advisor Group, a wealth management platform 
serving financial advisors, and AutoStore, a leading provider of 
automation technology for warehouse & distribution facilities. NBPE also 
completed an additional $6.0 million investment through the NB Specialty 
Finance Program. The main inward cashflows during the month were from 
interest and principal receipts from income investments. 
 
   On 17 July 2019, NBPE declared the second 2019 dividend of $0.29 per 
Share, to be paid on 30 August 2019. On an annualised basis, the 
dividend payment represents a 3.2% yield on the 31 July 2019 NAV and 
4.1% yield on the 31 July 2019 closing share price of GBP11.45. In 
aggregate during 2019 and inclusive of the upcoming dividend, NBPE will 
have returned $52.0 million to shareholders, consisting of $27.3 million 
of dividends and $24.7 million of share buybacks. Note that due to the 
timing of the receipt of information, 70% of the valuation information 
in this estimate remains as of 31st March 2019. 
 
   For further information, please contact: 
 
   NBPE Investor Relations               +1 214 647 9593 
 
   Kaso Legg Communications         +44 (0)20 3603 2803 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=_V_uo1MDFiRQZBNaT1ZK9tMo98Dd2-Fq0Ycq01YR82v_kYVB42jOgD9mmFCkuhODbAJijmgAZ_mAoZhQTQjFPyDcduHEAZSwSshCGT7eooESZPhdjlfYCS4DZ6ysmZBA 
nbpe@kl-communications.com 
 
   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 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 30 June 2019 and 31 March 2019, the 
Manager's analysis and historical experience lead the Manager to believe 
that this approximates fair value at 31 July 2019. 
 
   Attachment 
 
 
   -- NBPE July Monthly 2019 
      https://ml-eu.globenewswire.com/Resource/Download/166b3e71-9b05-40a4-9bba-35689f2bcdde 
 
 
 
 
 

(END) Dow Jones Newswires

August 14, 2019 02:00 ET (06:00 GMT)

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