NB Private Equity Partners Limited Monthly Nav Update For September 2018
October 16 2018 - 2:00AM
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
NB Private Equity Partners Announces Monthly NAV Update for September
2018
16 October 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 30 September 2018.
Key Highlights
-- Monthly and annual NAV development:
30 Sep-18 30 Sep-18
(Returns in $USD) Month YTD LTM
Total return NAV
development
per Share(1) (0.8%) 4.4% 8.7%
NAV development
per Share (0.8%) 1.3% 5.4%
-- 30 September 2018 NAV per Share of $17.67 (GBP13.56) decreased $0.07
(GBP0.13) from $17.74 (GBP13.69) NAV per Share at 31 August 2018
-- NBPE's NAV decrease of $3.3 million during the month of September
included:
-- $1.5 million of unrealised gains attributable to the receipt of new
valuation information, or $0.03 per share
-- $2.9 million of other unrealised losses, or $0.06 per share, attributable
to losses from public securities, realisation adjustments and
mark-to-market adjustments
-- $1.4 million of accrued cash and PIK interest from the income investment
portfolio, or $0.03 per share
-- $3.3 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 30 September 2018 was
based on the following information(2) :
-- 23% of the private equity fair value was valued as of 30 September 2018
-- 13% in private direct investments
-- 9% in public securities
-- 1% in credit-related fund investments
-- 1% of the private equity fair value was valued as of 31 August 2018
-- 1% in private direct investments
-- 3% of the private equity fair value was valued as of 31 July 2018
-- 3% in private direct investments
-- 73% of the private equity fair value was valued as of 30 June 2018
-- 68% in private direct investments
-- 5% in fund investments
Portfolio Commentary
During September NBPE received $9.4 million from the direct equity
investment portfolio as a result of one full exit and two partial
realisations. Counsyl was fully exited as a result of its sale to Myriad
Genetics (NASQDAQ: MYGN) for cash and stock, which was subsequently
sold. The partial sales were of Assurant stock (NYSE: AIZ) and a partial
realisation from Final Site. Recent strong liquidity from the fund
portfolio continued, with receipts of $5.2 million from the fund
portfolio during the month. Income investments distributed $1.8 million
to NBPE during September, consisting of interest and principal. New
Investments in September consisted of one direct equity investment, in
Husky Injection Molding Systems, a leading supplier of molding equipment
and services to the plastics industry.
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Kaso Legg Communications +44 (0)20 3137 7823
Charles Gorman nbpe@kl-communications.com
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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 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 August 2018, 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 30 September 2018.
Attachment
-- NBPE September Monthly 2018
https://prlibrary-eu.nasdaq.com/Resource/Download/27673e09-9861-4051-967b-6214884ef9df
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October 16, 2018 02:00 ET (06:00 GMT)
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