NBPU 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 September 2019 
 
   15 October 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 September 2019. 
 
   Key Highlights 
 
   --Monthly, year to date and LTM NAV development: 
 
 
 
 
                                       30 Sep-19  30 Sep-19 
(Returns in $USD)              Month      YTD        LTM 
Total return NAV development 
 per Share(1)                  (0.9%)       6.4%       4.1% 
NAV development per Share      (0.9%)       3.2%       0.9% 
 
 
   -- 30 September 2019 NAV per Share of $18.44 (GBP14.97) decreased $0.17 
      (GBP0.31) from $18.61 (GBP15.28) 31 August 2019 NAV per Share 
 
   -- NBPE's NAV decreased by $9.1 million, driven by: 
 
          -- $5.1 million of unrealised losses, or $0.11 per share, primarily 
             attributable to public securities 
 
          -- $3.8 million of losses, or $0.08 per share, primarily attributable 
             to ZDP and other interest, management and other fee accruals 
 
          -- $1.1 million, or $0.02 per share, of unrealised negative foreign 
             exchange adjustments on non-USD investments 
 
          -- $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 30 September 2019 was 
based on the following information(2) : 
 
 
   -- 13% of the private equity fair value was valued as of 30 September 2019 
 
          -- 7% in private direct investments 
 
          -- 6% in public securities 
 
   -- 2% of the private equity fair value was valued as of 31 August 2019 
 
          -- 1% in private direct investments 
 
          -- 1% in fund investments 
 
   -- 4% of the private equity fair value was valued as of 31 July 2019 
 
          -- 4% in private direct investments 
 
   -- 81% of the private equity fair value was valued as of 30 June 2019 
 
          -- 78% in private direct investments 
 
          -- 3% in fund investments 
 
 
   Portfolio Commentary 
 
   During September, NBPE received $34.2 million from realisations in the 
portfolio. $22.2 million was received from direct equity investments, of 
which approximately $17.0 million was received from the sale of 
Hilsinger and $4.7 million was received from distributions related to 
West Marine and an undisclosed healthcare company. Income investments 
distributed $10.6 million to NBPE, of which $9.2 million was received 
from the full exit of DuBois Chemicals; remaining proceeds consisted of 
interest and principal receipts. NBPE contributed $0.6 million to follow 
on investments during September and NBPE also repurchased 75,384 of its 
class A shares at an aggregate cost of $1.1 million, at a 23.6% discount 
to 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=hCWlsNpKsLhcrDwVmKfVBY2cndJi1sMcGYgV7VSqv1D7GIyNzgtAmKWfDrR-E2_02LAF8NM8SrgzjJPLwvIgRYYZYDpujjV2cKpHg9EvG03vZ7CCxC23cZE0kcQWAWUC 
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 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 $339 billion in client assets as of September 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 31 August 2019, 31 July 2019, and 30 June 
2019, the Manager's analysis and historical experience lead the Manager 
to believe that this approximates fair value at 30 September 2019. 
 
 
 
   Attachment 
 
 
   -- NBPE September Monthly 2019 
      https://ml-eu.globenewswire.com/Resource/Download/6ed35734-968d-4f1e-843d-8d29c037943f 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

October 15, 2019 02:00 ET (06:00 GMT)

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