NBPE Nb Private Equity Partners Limited

 
TIDMNBPE 
 
NB Private Equity Partners Announces Monthly Net Asset Value Update for February 
2013 and Financial Results for Fiscal Year 2012 
 
 
11 March 2013 
 
NB  Private Equity Partners Limited ("NBPE" or "the Company") today announced an 
updated  Net Asset Value ("NAV") as  of 28 February 2013 and released its Annual 
Financial  Report and audited financial statements for the fiscal year ended 31 
December  2012. This statement  is made  pursuant to  article 5:25e of the Dutch 
Financial  Supervision Act  (Wet op  het financieel  toezicht) which requirement 
stems from the EU Transparency Directive. (1) 
 
Monthly NAV Update 
 
As  of 28 February 2013, the unaudited pro forma NAV per share was $11.65, which 
represents  a 2.0% increase compared  to the originally  published unaudited NAV 
per share of $11.42 at 31 January 2013. 
 
The  pro forma  value of  NBPE's private  equity portfolio  as presented  in the 
February 2013 monthly report was based on the following information: 
 
 ·          39% of the private equity  pro forma fair value  was valued as of 28 
February 2013 
-    18% in  private  direct/co-investments  based on 28 February 2013 valuation 
information 
-   12% in credit-related fund investments 
-   9% in public securities 
 ·          58% of the private equity  pro forma fair value  was valued as of 31 
December 2012 
-   37% in fund investments based on Q4 2012 valuation information 
-   21% in private direct/co-investments based on Q4 2012 valuation information 
 ·          3% of the private  equity pro forma  fair value was  valued as of 30 
September 2012 
-   3% in fund investments based on Q3 2012 valuation information 
 
During  February, NBPE's portfolio value decreased  due to $1.2 million negative 
foreign exchange adjustments. This loss was offset by $0.9 million of unrealized 
gains  on  public  securities  and  $0.3  million of unrealized gains on credit- 
related  fund investments. There were no  shares repurchased during the month of 
February. 
 
On 28 February 2013, NBPE paid its first semi-annual dividend of $0.20 per Class 
A Ordinary Share. 
 
During  the  month  of  February,  NBPE's  aggregate  trading volume on Euronext 
Amsterdam, the London Stock Exchange, and over-the-counter trading platforms was 
797,970 shares,   which   represents   an   average   daily  trading  volume  of 
approximately   39,899 shares.   The   trading   volume   in  February  included 
approximately   541,930 shares  traded  over-the-counter  and  not  reported  on 
Euronext Amsterdam or the London Stock Exchange. 
 
(1)  Pursuant to article 5:25e and article 5:25m of the Dutch Financial 
Supervision Act this Annual Financial Report has been made generally available 
by means of a press release and by publication on NBPE's website 
(www.nbprivateequtiypartners.com) and has been filed with the Netherlands 
Authority for the Financial Markets (Autoriteit Financiële Markten). 
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. 
 
 
NBPE  expects to continue  to provide regular  NAV updates within seven business 
days of each month's end. 
 
Please  refer to the valuation  methodology section of the  monthly report for a 
description  of our  valuation policy.  While some  valuation data  is as of 31 
December 2012 and 30 September 2012, our analysis and historical experience lead 
us to believe that this approximates fair value at 28 February 2013. 
 
Annual Financial Results 
 
As  of 31 December  2012, NBPE's audited  Net Asset  Value ("NAV") per Share was 
$11.81,  representing a 7.1% increase  compared to the  audited NAV per Share of 
$11.03 at 31 December 2011. 
 
The  audited NAV per share of  $11.81 at 31 December 2012 represents an increase 
of  2.7% compared to the originally stated unaudited  NAV per share of $11.50 at 
31 December 2012. 
 
During  2012, our  private  equity  portfolio  generated realized gains of $33.8 
million  (excluding tax impacts) in 2012. The  portfolio also had net unrealized 
gains of $14.8 million from private investments, credit-related fund investments 
and  public equity securities. Investment performance during the year was offset 
by $12.5 million of net operating expenses (including tax impacts). NBPE's total 
expense  ratio at 31 December 2012 was 3.5%.(1) Share repurchases were accretive 
to NAV per Share by approximately $0.05. 
 
The  fair value of  NBPE's private equity  portfolio as presented  in the Annual 
Financial Report was based on the following information: 
 
 ·          77% of the private equity fair value was held in private equity funds 
and direct/co-investments using valuation information through 31 December 2012 
 ·          12% of the private equity fair value was held in credit-related funds 
using valuation information through 31 December 2012 
 ·          8% of  the  private  equity  fair  value  was held in publicly traded 
securities that were revalued as of 31 December 2012 
 ·          3% of the private equity fair value  was held in private equity funds 
using valuation information through 30 September 2012 
 
Based  on  the  updated  valuation  information  in the Annual Financial Report, 
NBPE's  unaudited restated pro forma NAV  per share at 31 January 2013 is $11.66 
which  represents a 2.1% increase  compared to the  previously published January 
monthly report of $11.42. 
 
Please refer to the valuation methodology section of the Annual Financial Report 
for  a description of our  valuation policy. While some  valuation data is as of 
30 September  2012, our analysis  and historical  experience lead  us to believe 
that this approximates fair value at 31 December 2012. 
 
 
 
1.        Total  expense ratio includes financing  costs consisting of ZDP costs 
and  credit facility  expenses, fees  and expenses  and carried  interest to the 
manager, but it excludes underlying fund fees and expenses. 
 
 
The  February 2013 monthly report and the Annual Financial Report for the fiscal 
year    ending   31 December   2012 are   available   on   NBPE's   website   at 
www.nbprivateequitypartners.com  and  should  be  read  in conjunction with this 
announcement. 
 
Investor Call 
NB  Private Equity  Partners Limited  ("NBPE" or  "the Company") today announced 
that  an investor conference call will be held on Friday, 15 March 2013 in order 
to discuss the Company's recent financial performance and Company developments. 
 
The  conference call will take place at 14.00 GMT / 15.00 CET / 10.00 am EST and 
can   be   accessed   by   dialing  +1-866-919-8155 (U.S.)  or  +1-706-634-9866 
(International) with the access code 19395928. Please ask for "the NBPE investor 
call." 
 
A  playback  facility  will  be  available  two  hours after the conference call 
concludes.  This facility can be accessed for the following two weeks by dialing 
+1-855-859-2056 (U.S.)  or +1-404-537-3406 (International).  The code  to access 
the playback facility is 19395928. A recording of the investor call will also be 
available on NBPE's website within several days after the call. 
 
An  updated investor presentation will be available  prior to the call on NBPE's 
website at www.nbprivateequitypartners.com. 
 
For further information, please contact: 
NBPE Investor Relations     +1 214 647 9593 
 
FTI Consulting                     +44 20 7269 7297/7243 
Edward Berry 
Laura Pope 
 
ABOUT NB PRIVATE EQUITY PARTNERS LIMITED 
NBPE  is a  closed-end private  equity investment  company with class A ordinary 
shares  admitted to trading on Euronext Amsterdam and the Specialist Fund Market 
of  the London Stock  Exchange. NBPE has  ZDP shares admitted  to trading on the 
Specialist  Fund Market of the London Stock Exchange and the Daily Official List 
of  the Channel  Islands Stock  Exchange. NBPE  holds a diversified portfolio of 
private  equity fund  investments and  direct/co-investments selected  by the NB 
Alternatives  group of Neuberger Berman, diversified across private equity asset 
class, geography, industry, vintage year, and sponsor. 
 
ABOUT NEUBERGER BERMAN 
Neuberger  Berman  is  a  private,  independent,  employee-controlled investment 
manager.  It partners with institutions, advisors and individuals throughout the 
world  to customize  solutions that  address their  needs for income, growth and 
capital  preservation. With more than 1,700 professionals focused exclusively on 
asset  management,  it  offers  an  investment  culture of independent thinking. 
Founded  in 1939, the company provides  solutions across equities, fixed income, 
hedge  funds and private equity, and had $205 billion in assets under management 
as  of  31 December  2012. 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. 
 
NBPE 2012 Annual Financial Report: 
http://hugin.info/137843/R/1684531/551605.pdf 
 
NBPE Publishes Monthly NAV & Financial Results for 2012: 
http://hugin.info/137843/R/1684531/551608.pdf 
 
Manager Commentary February 2013: 
http://hugin.info/137843/R/1684531/551606.pdf 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: NB Private Equity Partners Limited via Thomson Reuters ONE 
[HUG#1684531] 
 

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