NB Private Equity Partners Limited Correction: Nb Private Equity Partners: July 2016 Monthly Net Asset Value
10 Agosto 2016 - 3:38PM
UK Regulatory
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
10 August 2016
This announcement replaces the previous July 2016 Monthly Net Asset
Value statement, issued on 10 August 2016 at 07:00 BST. The monthly
change in NAV and Total Return NAV per Share has been corrected to 1.0%
from 3.0% in the earlier statement. All other information in the
announcement is unchanged.
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 July 2016.
Key Highlights
-- Monthly, year to date and LTM NAV development:
Month 31 Jul 16 YTD 31 Jul 16 LTM
Total return NAV development per
Share([1] #_ftn1) 1.0% 3.4% 2.8%
NAV development per Share 1.0% 1.6% 1.0%
-- After the associated dividend liability, the 31 July 2016 NAV per Share
of $14.33 decreased 0.7% from $14.43 at 30 June 2016
-- NBPE's NAV decrease of ($5.2) million during the month included:
-- ($12.2) million of dividend declared, or ($0.25) per share
-- $3.6 million of unrealised gains on public securities, or $0.07
per share
-- $2.0 million of accrued cash and payment in kind ("PIK") interest
from the income investment portfolio, or $0.04 per share
-- $0.9 million of unrealised gains attributable to the receipt of
new valuation information, or $0.02 per share
-- $0.1 million of unrealised gains on credit related fund
investments $0.00 per share
-- ($0.3) million of foreign exchange adjustments at the portfolio
company level, or ($0.01) per share
-- $0.6 million of net gains from realised investments, investment
income, and expenses,
or $0.01 per share
Portfolio Valuation
The value of NBPE's private equity portfolio as of 31 July 2016 was
based on the following information([2] #_ftn2) :
-- 42% of the private equity fair value was valued as of 31 July 2016
-- 33% in private direct investments
-- 7% in public securities
-- 2% in credit-related fund investments
-- 52% of the private equity fair value was valued as of 30 June 2016
-- 41% in private direct investments
-- 11% in fund investments
-- 6% of the private equity fair value was valued as of 31 March 2016
-- 6% in fund investments
NBPE expects to issue its semi-annual report for the six month period
ended 30 June 2016 in August. The quarterly report will include
unaudited financial information prepared in accordance with accounting
principles generally accepted in the United States. NBPE is required to
consider, and will consider, all known material information in preparing
such interim financial report, including information that may become
known subsequent to the issuance of this monthly report. Accordingly,
amounts included in the quarterly reports may differ from this monthly
report.
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, direct 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 approximately 2,000 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 $246 billion in client assets as of
June 30, 2016. 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.
([1] #_ftnref1) Assumes reinvestment of dividends on the ex-dividend
date and reflects cumulative returns over time period shown.
([2] #_ftnref2) Please refer to the valuation methodology section of the
monthly report for a description of the Manager's valuation policy.
While some valuation data is as of 30 June and 31 March 2016, the
Manager's analysis and historical experience lead the Manager to believe
that this approximates fair value at 31 July 2016.
NBPE July 2016 Monthly NAV:
http://hugin.info/137843/R/2034394/757611.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#2034394
http://www.nbprivateequitypartners.com
(END) Dow Jones Newswires
August 10, 2016 09:38 ET (13:38 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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