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 August 2018 
 
   28 September 2018 
 
   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 August 2018. 
 
   Key Highlights 
 
 
   -- Monthly and annual NAV development: 
 
 
 
 
                                          31 Aug-18    31 Aug-18 
(Returns in $USD)               Month        YTD          LTM 
Total return NAV development 
 per Share(1)                  (0.4%)       4.8%        12.0% 
NAV development per Share      (0.4%)       1.7%         8.7% 
 
 
   -- 31 August 2018 NAV per Share of $17.74 (GBP13.69) decreased $0.07 
      (GBP0.12) from $17.81 (GBP13.57) NAV per Share at 31 July 2018 
 
   -- NBPE's NAV decrease of $3.4 million during the month of August included: 
 
 
          -- $0.2 million of unrealised gains attributable to the receipt of 
             new valuation information, or $0.00 per share 
 
          -- $8.7 million of other unrealised losses, or $0.18 per share, 
             attributable to losses from public securities, realisation 
             adjustments and mark-to-market adjustments 
 
          -- $1.2 million of accrued cash and PIK interest from the income 
             investment portfolio, or $0.03 per share 
 
          -- $3.9 million increase in NAV attributable to value changes to 
             other assets and liabilities during the month 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 31 August 2018 was 
based on the following information(2) : 
 
 
   -- 27% of the private equity fair value was valued as of 31 August 2018 
 
          -- 17% in private direct investments 
 
          -- 9% in public securities 
 
          -- 1% in credit-related fund investments 
 
   -- 3% of the private equity fair value was valued as of 31 July 2018 
 
          -- 3% in private direct investments 
 
   -- 70% of the private equity fair value was valued as of 30 June 2018 
 
          -- 65% in private direct investments 
 
          -- 5% in fund investments 
 
   Portfolio Commentary 
 
   During August, NBPE funded $24.5 million to four new direct equity 
investments in Edelman Financial, an independent financial planning firm, 
Verifone, an electronic payment technology company, NextLevel, an 
apparel company, and Crownrock, an oil and gas company. In addition, 
NBPE completed a small follow-on investment in Bomgar, a cyber security 
technology company. NBPE also funded $24.5 million to investments made 
through the NB Credit Opportunities Program. 
 
   In terms of distributions, NBPE received $7.0 million from income 
investments, consisting of proceeds from the exit of one investment and 
principal and interest receipts. Direct equity investments distributed 
$1.1 million during the month, of which $0.8 million was received from 
the partial secondary sale of public stock of First Data (NYSE: FDC) and 
$0.3 million was received as a result of escrow and other partial cash 
realisations. Fund investments distributed $3.5 million to NBPE during 
the month. 
 
   On 31 August 2018, NBPE paid a dividend of $0.28 per share. 
 
   For further information, please contact: 
 
   NBPE Investor Relations          +1 214 647 9593 
 
 
 
   Neustria Partners                     +44 20 3021 2580 
 
   Nick Henderson 
Nick.Henderson@neustriapartners.com 
 
   Robert Bailhache 
Robert.Bailhache@neustriapartners.com 
 
   Charles Gorman 
Charles.Gorman@neustriapartners.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 and Euronext Amsterdam. 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 20 countries, 
Neuberger Berman's team is more than 2,000 professionals. For four 
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 fosters an investment culture of 
fundamental research and independent thinking. It manages $304 billion 
in client assets as of June 30, 2018. For more information, please visit 
our website at 
https://www.globenewswire.com/Tracker?data=NNMjrO1GD9bHetML4_EnGeSzZBmBLIkYZnxAjLri0RqaJu7b-yWB-_POohIH0H6LhmAYW-gUQW8euCcU3neX7w== 
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 and the States of Guernsey Policy Council. 
NBPE is registered with the Dutch Authority for the Financial Markets as 
a collective investment scheme which may offer participations in The 
Netherlands pursuant to article 2:66 of the Financial Markets 
Supervision Act (Wet op het financial toezicht). All investments are 
subject to risk. Past performance is no guarantee of future returns. 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. While 
some valuation data is as of 31 July 2018 and 30 June 2018, the 
Manager's analysis and historical experience lead the Manager to believe 
that this approximates fair value at 31 August 2018. 
 
 
 
   Attachment 
 
 
   -- NBPE August Monthly 2018 
      https://prlibrary-eu.nasdaq.com/Resource/Download/2650fe2d-f14c-4249-869d-6e8f9458c6ea 
 
 
 
 
 

(END) Dow Jones Newswires

September 28, 2018 02:00 ET (06:00 GMT)

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