NB Private Equity Partners Limited : Announce Monthly NAV Update for December 2015
12 Gennaio 2016 - 8:00AM
NB Private Equity
Partners Limited: NB Private Equity Partners Ltd Announce Monthly
NAV Update for December 2015
12 January 2016
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 December 2015.
Key
Highlights
-
31 December 2015 NAV per Share of $14.37, up
from $14.24 NAV per Share at 31 December 2014
-
Monthly, year to date and LTM NAV
development:
Month
31 Dec 15
YTD
31 Dec 15 LTM
NAV development per
Share
(0.1%)
0.9%
0.9%
Total return NAV development per Share1
(0.1%)
5.0%
5.0%
· -0.1%
decrease in NAV during the month to $701.2 million, (30 November
2015: $701.9 million). Unrealised gains from accrued cash and
payment-in-kind ("PIK") interest and the receipt of new valuation
information were offset by losses on public securities, foreign
exchange and other expenses
· NBPE's
NAV decrease of $0.8 million during the month included:
o
$2.4 million of accrued cash and PIK interest from the income
investment portfolio, or $0.05 per share
o
$1.7 million of unrealised gains attributable to the receipt of new
valuation information, or $0.03 per share
o
$0.3 million of negative foreign exchange adjustments, or ($0.01)
per share
o
$0.8 million of net losses from other realised gains, investment
income, and expenses, or ($0.02) per share
o
$3.7 million of unrealised losses on public securities, or ($0.08)
per share
Portfolio
Valuation
The value of NBPE's private equity
portfolio as of 31 December 2015 was based on the following
information2:
-
46% of the private equity fair value was valued
as of 31 December 2015
-
2% of the private equity fair value was valued
as of 30 November 2015
-
52% of the private equity fair value was valued
as of 30 September 2015
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 interim report for a description of our
valuation policy. While some valuation data is as of 30 November
and September 2015, our analysis and historical experience lead us
to believe that this approximates fair value at 31 December
2015.
Portfolio
commentary
During December, NBPE funded $15.0 million to second lien
investments in Total Fleet Solutions, a fleet management company,
and to Phillips Feed Service, a pet food and pet supply
distributor. NBPE also funded $9.0 million to one new equity
co-investment, Innovation Group, a business process outsourcing
company, and to two follow-on investments in LookingGlass, a cyber
security company, and Consilio, a leader in eDiscovery and document
review services. $1.7 million was contributed to fund
investments during the month.
In terms of distributions, NBPE
received $7.1 million from income investments, consisting of
interest and principal payments. NBPE received $3.4 million of
distributions from equity co-investments, primarily driven by
Pepcom, as a result of the company's sale, and Freescale, as a
result of a partial sale of stock. $7.1 million was received from
fund investments, driven by distributions from NBPE's holding in NB
Crossroads Funds.
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 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 $237 billion in client assets as
of 30 September 2015. 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.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: NB Private Equity Partners Limited via
Globenewswire
HUG#1978177
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