NBPE Nb Private Equity Partners Limited

 
TIDMNBPE 
 
 
   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 Share(1)        (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 information(2) : 
 
 
   -- 46% of the private equity fair value was valued as of 31 December 2015 
 
          -- 35% in private direct investments 
 
          -- 9% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 2% of the private equity fair value was valued as of 30 November 2015 
 
          -- 2% in fund investments 
 
   -- 52% of the private equity fair value was valued as of 30 September 2015 
 
          -- 35% in private direct investments 
 
          -- 17% in fund investments 
 
 
 
   (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 
 
 
  http://www.nbprivateequitypartners.com 
 

(END) Dow Jones Newswires

January 12, 2016 02:00 ET (07:00 GMT)

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