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 December 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 30 November 2016. 
 
   Key Highlights 
 
 
   -- Monthly, year to date and LTM NAV development: 
 
 
 
 
 
                                           Month  30 Nov 16 YTD  30 Nov 16 LTM 
 
Total return NAV development per 
 Share([1] #_ftn1)                          2.1%          10.6%          10.3% 
NAV development per Share                   2.1%           6.8%           6.5% 
 
 
 
   -- 30 November 2016 NAV per Share of $15.32 $0.31 increase from $15.01 NAV 
      per Share at 31 October 2016 
 
   -- NBPE's NAV increase of $15.1 million during the month included: 
 
          -- $18.6 million increase in NAV attributable to changes in the value 
             of the investment portfolio 
 
                 -- $11.9 million of unrealised gains attributable to the 
                    receipt of new valuation information, or $0.24 per share 
 
                 -- $5.5 million of unrealised gains, or $0.11 per share, of 
                    which $6.0 million was attributable to unrealised gains on 
                    public securities, ($0.9) million was attributable to 
                    foreign exchange adjustments at the portfolio company level 
                    and $0.4 million was attributable to mark-to-market 
                    adjustments 
 
                 -- $1.2 million of accrued cash and payment in kind ("PIK") 
                    interest from the income investment portfolio, or $0.02 per 
                    Share 
 
          -- $3.5 million decrease in NAV attributable to expenses and other 
             liabilities during the month 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 30 November 2016 was 
based on the following information([2] #_ftn2) : 
 
 
   -- 41% of the private equity fair value was valued as of 30 November 2016 
 
          -- 26% in private direct investments 
 
          -- 13% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 56% of the private equity fair value was valued as of 30 September 2016 
 
          -- 43% in private direct investments 
 
          -- 13% in fund investments 
 
   -- 3% of the private equity fair value was valued as of 30 June 2016 
 
          -- 3% in fund investments 
 
 
   Portfolio Commentary 
 
   During November, NBPE participated in five new investments including the 
second lien debt and equity of ProAmpac, a packaging company, as well as 
equity co-investments in Lasko Products, a manufacturer of portable fans 
and ceramic heaters, Emerson Network Power, a provider of data center 
infrastructure, and Final Site, a learning management platform for 
schools. In addition, NBPE completed a follow-on investment in Marquee 
Brands. 
 
   In terms of distributions, NBPE received $3.3 million from equity 
co-investments, driven by exit proceeds from the sale of Seventh 
Generation, and $3.8 million from income investments, consisting of 
interest and principal payments. Fund investments also distributed $1.2 
million to NBPE. 
 
   Subsequent to this reporting period, it was announced that Deltek, an 
equity co-investment alongside Thoma Bravo, has been sold to Roper 
Technologies, Inc. NBPE has valued its investment in Deltek in the 
November monthly NAV update to reflect the proceeds expected from the 
sale. 
 
   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  2017 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 and applications have been made 
for 2022 ZDP Shares to be admitted to trading on the Specialist Fund 
Segment of the Main Market of the London Stock Exchange. 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 more than 1,900 professionals and the company was named by 
Pensions & Investments as a Best Place to Work in Money Management for 
four consecutive years. Tenured, stable and long-term in focus, the firm 
fosters an investment culture of fundamental research and independent 
thinking. It manages $255 billion in client assets as of September 30, 
2016. For more information, please visit our website at www.nb.com. 
 
   ([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 September and 30 June 2016, the 
Manager's analysis and historical experience lead the Manager to believe 
that this approximates fair value at 30 November 2016. 
 
   November 2016 Monthly NAV : 
http://hugin.info/137843/R/2065268/775281.pdf 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq 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 
 
 
  http://www.nbprivateequitypartners.com 
 

(END) Dow Jones Newswires

December 15, 2016 02:00 ET (07:00 GMT)

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