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 
 
   25 August 2015 
 
   NB Private Equity Partners Limited ("NBPE" or the "Company"), a 
closed-end private equity investment company, today releases its Interim 
Financial Report for the period ended 30 June 2015. 
 
   Key Highlights 
 
 
   -- 2.6% increase in Net Asset Value ("NAV") during the first six months to 
      $713.0 million (31 December 2014: $694.8 million) driven by unrealized 
      gains on public and private equity holdings as well as cash and 
      payment-in-kind ("PIK") interest on its income investment portfolio. 
 
   -- NBPE's NAV increase of $45.1 million during the six months included: 
 
          -- $42.9 million of realised gains, or $0.88 per Share, net of tax 
             expense 
 
          -- $14.6 million of unrealised losses, or ($0.30) per Share, net of 
             tax expense 
 
          -- $16.2 million of yield income and dividends, or $0.33 per Share 
 
          -- $15.0 million of operating expenses and other expenses, or ($0.31) 
             per Share 
 
          -- $11.2 million of dividends paid, or $0.23 per Share 
 
   -- Portfolio continues to produce positive and consistent NAV development: 
 
 
 
 
 
                                 30 June 2015    30 June 2015    31 July 2015 
                Month  Q2 2015       YTD             LTM        YTD (Revised) 
 
NAV 
 development 
 per Share       0.1%     2.5%            2.6%            4.7%            1.4% 
Total return 
 NAV 
 development 
 per Share([1] 
 #_ftn1)         0.1%     2.5%            4.5%            8.9%            5.5% 
 
 
 
   -- Following the receipt of new valuation information, the 31 July 2015 
      revised monthly NAV represents a 0.2% increase from the originally 
      published 31 July 2015 monthly NAV estimate 
 
   -- 8.7% increase in semi-annual dividend to $0.25 per Share (H1 2014: $0.23 
      per Share) representing a dividend yield of 4.3% on share price on an 
      annualized basis[2] #_ftn2 . 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as at 30 June 2015 was 
based on the following information([3] #_ftn3) : 
 
 
   -- 94% of the private equity fair value was valued as of 30 June 2015 
 
          -- 82% in private direct/co-investments and funds based on 30 June 
             2015 valuation information 
 
          -- 10% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 6% of the private equity fair value was valued as of 31 March 2015 
 
 
 
   ([1] #_ftnref1) Assumes reinvestment of dividends and reflects 
cumulative returns over time period shown. 
 
   ([2] #_ftnref2) Dividend previously announced on 14 July 2015, to be 
paid on each Ordinary Share on 27 August 2015. 
 
   ([3] #_ftnref3) Please refer to the valuation methodology section of the 
interim report for a description of our valuation policy. While some 
valuation data is as of 31 March 2015, our analysis and historical 
experience lead us to believe that this approximates fair value at 30 
June 2015. 
 
   Portfolio commentary 
 
 
   -- Direct investment focus: 75% of fair value invested in equity 
      co-investments and income investments 
 
   -- Strong cash flow: $146.3 million of distributions received during the 
      first six months of 2015; $106.8 million funded to investments 
 
   -- New investments: 10 new equity co-investments and eight new income 
      investments completed year to date 
 
 
   Market commentary 
 
   Private equity buyers had significant capital to invest as robust 
fundraising activities continued. In addition, credit was readily 
available and many companies have demonstrated strong performance over 
the last few years. Companies with strong growth profiles, high free 
cash flow and more predictable business models insulated from broad 
macroeconomic trends attracted premium multiples. Strong M&A and 
generally receptive IPO markets created many selling opportunities for 
private equity firms seeking exits for portfolio companies. The Manager 
believes this environment was advantageous for NBPE's portfolio during 
the first six months of 2015. 
 
   Although many segments of the private equity market remain competitive, 
the Manager believes a favourable opportunity exists in the small and 
mid-cap buyout markets. 
 
   Outlook 
 
   NBPE continues to benefit from the full resources of the Manager's 
integrated private equity platform for superior deal flow, due diligence 
and execution capabilities. The Manager believes that while many 
segments of the market remain competitive, there are a number of 
near-term opportunities that would be attractive investments for the 
portfolio and that the current investment pipeline remains strong. 
 
   The Interim Financial Report can be accessed via the NBPE website at 
www.nbprivateequitypartners.com. 
 
   Investor Call 
 
   NBPE will hold a conference call on Tuesday 25 August 2015 in order to 
discuss the Company's recent financial performance and Company 
developments. 
 
   The conference call will take place at 14.00 BST / 15.00 CEST / 9.00 EDT 
and can be accessed by dialing +1-877-233-4049 (U.S.) or +1-706-634-9866 
(International) with the access code 17356904. 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 17356904. 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 
 
 
 
   Neustria Partners                     +44 20 3021 2580 
 
   Nick Henderson 
 
   Robert Bailhache 
 
   Charles Gorman 
 
   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 Securities 
Exchange Authority Limited. NBPE holds a diversified portfolio of direct 
income investments, equity 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. 
 
   ABOUT NEUBERGER BERMAN 
 
   Neuberger Berman, founded in 1939, is a private, independent, 
employee-owned investment manager. The firm manages equities, fixed 
income, private equity and hedge fund portfolios for institutions and 
advisors worldwide. With offices in 18 countries, Neuberger Berman's 
team is more than 2,100 professionals and the company was named by 
Pensions & Investments as a 2013 and 2014 Best Place to Work in Money 
Management. Tenured, stable and long-term in focus, the firm fosters an 
investment culture of fundamental research and independent thinking. It 
manages $251 billion in client assets as of June 30, 2015. For more 
information, please visit our website at www.nb.com. 
 
   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. Pursuant to article 5:25e and 
article 5:25m of the Dutch Financial Supervision Act this Interim 
Management Statement 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). 
 
   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. 
 
 
 
   150825 NBPE Interim Financial Statements: 
http://hugin.info/137843/R/1947292/707026.pdf 
   150825 NBPE Annnounces Interim Financial Stmts & Investor Presentation: 
http://hugin.info/137843/R/1947292/707028.pdf 
   150825 NBPE Investor Presentation: 
http://hugin.info/137843/R/1947292/707027.pdf 
 

(MORE TO FOLLOW) Dow Jones Newswires

August 25, 2015 02:01 ET (06:01 GMT)

Grafico Azioni Nb Private Equity Partners (LSE:NBPE)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Nb Private Equity Partners (LSE:NBPE)
Storico
Da Lug 2023 a Lug 2024