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 
 
   15 March 2016 
 
   NB Private Equity Partners Limited ("NBPE" or the "Company"), a 
closed-end private equity investment company, today releases its Annual 
Financial Report and Consolidated Financial Statements for the period 
ended 31 December 2015 as well as its Net Asset Value ("NAV") for the 
period ended 29 February 2016. 
 
   Key Highlights 
 
 
   -- 31 December 2015 NAV per Share of $14.35, up from $14.24 NAV per Share at 
      31 December 2014 
 
          -- 4.9% increase in Net Asset Value ("NAV") total return during 20151 
             driven by unrealised gains on private equity and public holdings 
             as well as cash and payment-in-kind ("PIK") interest on its income 
             investment portfolio 
 
   -- NBPE's NAV total return increase of $28.9 million during 2015 included: 
 
          -- $73.5 million of realised gains, or $1.51 per Share, net of tax 
             expense 
 
          -- $55.2 million of unrealised losses, or ($1.13) per Share, net of 
             tax expense 
 
          -- $35.4 million of yield income and dividends, or $0.73 per Share 
 
          -- $23.4 million of dividends paid, or $0.48 per Share 
 
          -- $9.8 million of financing costs, or ($0.20) per share 
 
          -- $14.8 million of management fees, operating expenses and  other 
             expenses, or ($0.30) per Share 
 
   -- 29 February 2016 NAV per Share of $13.98. Including the dividend payment 
      made on 29 February 2016, the NAV per share would be $14.23. During 
      February, NBPE's NAV increased by $0.3 million, principally by yield 
      income, which was offset by unrealised losses on public securities and 
      losses attributable to the receipt of additional valuation information 
      and expenses. 
 
   -- Portfolio continues to produce good NAV development: 
 
 
 
 
 
                     31 December 2015    29 February 2016    29 February 2016 
                           LTM                 YTD               (Month) 
 
Total return NAV 
 development per 
 Share([1] 
 #_ftn1)                          4.9%              (0.3%)                2.5% 
NAV development 
 per Share                        0.8%              (2.4%)                1.7% 
 
 
 
 
 
   -- Following the receipt of new valuation information, the 31 January 2016 
      revised NAV represents a 0.6% increase from the originally published 31 
      January 2016 monthly NAV estimate 
 
 
   Portfolio Commentary 
 
 
   -- Strong cash flow: $308.0 million of distributions received during 2015, 
      NBPE's strongest year of distributions in its history. An additional 
      $22.5 million of distributions were received during the month of February 
      2016, bringing 2016 YTD distributions to $48.4 million. 
 
   -- New investments: 14 new equity investments, 1 follow-on equity investment 
      and 17 new income investments completed in 2015 totalling $225.8 million. 
      Three new equity investments funded in February 2015 (four new equity 
      investments year to date, two new direct yielding investments year to 
      date). 
 
   -- Direct investment focus: 78% of fair value invested in direct equity and 
      income investments at 29 February 2016 (78% of fair value at 31 December 
      2016). 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as at 31 December 2015 was 
based on the following information([2] #_ftn2) : 
 
 
   -- 99% of the private equity fair value was valued as of 31 December 2015 
 
          -- 89% in private direct investments and fund investments 
 
          -- 8% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 1% of the private equity fair value was valued as of 30 September 2015 
 
 
 
   The value of NBPE's private equity portfolio as of 29 February 2015 was 
based on the following information([3] #_ftn3) : 
 
 
   -- 44% of the private equity fair value was valued as of 29 February 2016 
 
          -- 37% in private direct investments 
 
          -- 6% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 1% of the private equity fair value was valued as of 31 January 2016 
 
          -- 1% in private direct investments 
 
   -- 54% of the private equity fair value was valued as of 31 December 2015 
 
          -- 37% in private direct investments 
 
          -- 17% in fund investments 
 
   -- 1% of the private equity fair value was valued as of 30 September 2015 
 
          -- 1% in fund investments 
 
 
 
   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 may be attractive investments for the 
portfolio and that the current investment pipeline remains strong. 
 
   Investor Call 
 
   An investor conference call will be held on Thursday 17 March 2016 in 
order to discuss the Company's recent financial performance and Company 
developments. 
 
   The conference call will take place at 13.00 GMT / 14.00 CET / 9.00 EST 
and can be accessed by dialing +1-877-233-4049 (U.S.) or +1-706-634-9866 
(International) with the access code 69904556. 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 69904556. 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 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 
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 $240 billion in client assets as of 31 December 2015. For more 
information, please visit our website at www.nb.com. 
 
   ([1] #_ftnref1) Assumes reinvestment of dividends on the ex-dividend 
date at the closing share price and reflects cumulative returns over 
time period shown. 
 
   ([2] #_ftnref2) 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 2015, our analysis and 
historical experience lead us to believe that this approximates fair 
value at 31 December 2015. 
 
   ([3] #_ftnref3) 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 2015 and 31 December 2015, our 
analysis and historical experience lead us to believe that this 
approximates fair value at 29 February 2015. 
 
   NBPE February 2016 Monthly NAV: 
http://hugin.info/137843/R/1994260/734335.pdf 
   NBPE Annual Report y/e 31 December 2015: 
http://hugin.info/137843/R/1994260/734334.pdf 
 
   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#1994260 
 
 
  http://www.nbprivateequitypartners.com 
 

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