NB Private Equity Partners Limited : NB Private Equity Partners Ltd Announce Q1 2016 Quarterly Report and April 2016 Monthly ...
13 Maggio 2016 - 8:01AM
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
13 May
2016
NB Private Equity Partners Limited
("NBPE" or the "Company"), a closed-end private equity investment
company, today releases its Quarterly Report for the period ended
31 March 2016 as well as its Net Asset Value ("NAV") for the period
ended 30 April 2016. NBPE also announces that an investor
conference call will be held on Tuesday 17 May 2016 in order to
discuss the Company's recent financial performance and Company
developments.
Key
Highlights
-
31 March 2016 NAV per Share of $14.00, down from
$14.35 per Share at 31 December 2015.
-
$0.25 per Share dividend paid on 29 February
2016
-
NAV per Share total return of 0.0%
-
NAV per Share change was driven by realised
investment gains and portfolio yield income offset by dividends,
unrealised investment depreciation and expenses
-
NBPE's NAV decrease of $17.3 million during the
first quarter of 2016 included:
-
$12.2 million of dividends paid, or $0.25 per
Share
-
$24.0 million of realised gains, or $0.49 per
Share, net of tax expense
-
$31.5 million of unrealised losses, or ($0.65)
per Share, net of tax expense
-
$8.3 million of yield income and dividends, or
$0.17 per Share
-
$2.2 million of financing costs, or ($0.05) per
share
-
$3.7 million of management fees, operating
expenses and other expenses, or ($0.08) per Share
-
30 April 2016 NAV per Share was $14.07. During
April, NBPE's NAV increased by $3.8 million, principally driven by
yield income, gains on public securities and write-ups attributable
to the receipt of additional valuation information
-
NAV development during 2016 to date has been as
follows:
|
31 March
2016 LTM |
30 April
2016 YTD |
30 April 2016 Month |
|
|
|
|
Total
return NAV development per Share[1] |
2.2% |
0.5% |
0.6% |
NAV
development per Share |
(2.4%) |
(1.9%) |
0.6% |
|
|
|
|
Portfolio
Commentary
-
Strong cash flow: $62.3
million of distributions received during the first quarter of 2016.
An additional $15.0 million of distributions were received during
the month of April 2016, bringing 2016 YTD distributions to $77.3
million.
-
New investments: Five new
equity investments and four new income investments completed in the
first quarter of 2016 totalling $43.6 million. Two new equity
investments and one new income investment funded in April
2016.
-
Direct investment focus:
79% of fair value invested in direct equity and income investments
at 30 April 2016.
Portfolio
Valuation
The value of NBPE's private equity
portfolio as at 31 March 2016 was based on the following
information[2]:
The value of NBPE's private equity portfolio as of 30 April 2016
was based on the following information[3]:
-
45% of the private equity fair value was valued
as of 30 April 2016
-
50% of the private equity fair value was valued
as of 31 March 2016
-
5% of the private equity fair value was valued
as of 31 December 2015
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
NB Private Equity Partners Limited
("NBPE" or the "Company") today announced that an investor
conference call will be held on Tuesday 17 May 2016 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
dialling +1-866-919-8155 (U.S.) or +1-706-634-9866 (International)
with the access code 12162219. 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 dialling
+1-855-859-2056 (U.S.) or +1-404-537-3406 (International). The code
to access the playback facility is 12162219. 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
http://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 19 countries, Neuberger
Berman's team is more than 2,100 professionals and the company was
named by Pensions & Investments as a Best Place to Work in
Money Management for three consecutive years. Tenured, stable and
long-term in focus, the firm fosters an investment culture of
fundamental research and independent thinking. It manages $243
billion in client assets as of March 31, 2016. 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.nbprivateequitypartners.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.
[1] Assumes reinvestment of dividends on the ex-dividend date
at the closing share price and reflects cumulative returns over
time period shown.
[2] Please refer to the valuation methodology section of the
Quarterly Report for a description of the Manager's valuation
policy. While some valuation data is as of 31 December 2015, the
Manager's analysis and historical experience lead the Manager to
believe that this approximates fair value at 31 March 2016.
[3] Please refer to the valuation methodology section of the
Quarterly Report for a description of the Manager's valuation
policy. While some valuation data is as of 31 December 2015 and 31
March 2016, the Manager's analysis and historical experience lead
the Manager to believe that this approximates fair value at 30
April 2016.
NBPE April 2016 Monthly NAV
NBPE Q1 2016 Quarterly Report
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
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