CORRECTION: NB Private Equity Partners: July 2016 Monthly Net Asset Value
10 Agosto 2016 - 3:38PM
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
|
Month |
31 Jul 16 YTD |
31 Jul 16 LTM |
|
|
|
|
Total
return NAV development per Share[1] |
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]:
-
42% of the private equity fair value was valued
as of 31 July 2016
-
52% of the private equity fair value was valued
as of 30 June 2016
-
6% of the private equity fair value was valued
as of 31 March 2016
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] 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
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
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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