NBPE Nb Private Equity Partners Limited

 
TIDMNBPE 
 
 
   19 January 2017 
 
   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 December 2016. 
 
   Key Highlights 
 
 
   -- Monthly and annual NAV development: 
 
 
 
 
 
                                                   Month  31 Dec 16 Year Ended 
 
Total return NAV development per Share([1] 
 #_ftn1)                                            0.7%                 11.4% 
NAV development per Share                           0.7%                  7.5% 
 
 
 
   -- 31 December 2016 NAV per Share of $15.43  increased $0.11 from $15.32 NAV 
      per Share at 30 November 2016 
 
   -- NBPE's NAV increase of $5.4 million during the month included: 
 
          -- $9.0 million increase in NAV attributable to changes in the value 
             of the investment portfolio 
 
                 -- $8.7 million increase of unrealised gains attributable to 
                    the receipt of new valuation information, or $0.18 per 
                    share 
 
                 -- ($0.2) million decrease of other unrealised gains, or 
                    ($0.00) per share, of which ($2.1) million was attributable 
                    to unrealised losses on public securities and $1.9 million 
                    was attributable to mark-to-market gains and realised 
                    adjustments 
 
                 -- ($1.2) million was attributable to negative foreign 
                    exchange adjustments at the portfolio company level, or 
                    ($0.02) per share 
 
                 -- $1.7 million of accrued cash and payment in kind ("PIK") 
                    interest from the income investment portfolio, or $0.03 per 
                    share 
 
          -- $3.6 million decrease in NAV attributable to value changes to 
             other assets and liabilities during the month 
 
 
   Portfolio Valuation 
 
   The value of NBPE's private equity portfolio as of 31 December 2016 was 
based on the following information([2] #_ftn2) : 
 
 
   -- 39% of the private equity fair value was valued as of 31 December 2016 
 
          -- 25% in private direct investments 
 
          -- 12% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 61% of the private equity fair value was valued as of 30 September 2016 
 
          -- 44% in private direct investments 
 
          -- 17% in fund investments 
 
 
 
 
 
 
 
 
 
   Portfolio Commentary 
 
   During December, NBPE completed one new investment in Velocidi, a 
marketing intelligence company, and one follow-on investment in a 
financial services company. 
 
   Distribution activity was strong during the month, with NBPE receiving 
total distributions of $41.5 million. This was driven by $30.6 million 
in distributions from income investments, of which $27.4 million was 
received as a result of five exits. The remaining distributions 
consisted of interest and principal payments. NBPE received $6.7 million 
from direct equity investments during the month, consisting primarily of 
proceeds received from the sale of Revspring. NBPE also received final 
exit proceeds from secondary sales of public shares of Commscope and 
partial exit proceeds from the sale of public shares of Fairmount 
Minerals and Univar. Fund investments distributed $4.2 million to NBPE 
during December. Two notable portfolio events that are not included in 
December's distribution activity are the equity proceeds from the 
previously announced sale of Deltek, and the announced sale of Capsugel 
to Lonza, which is expected to close in the coming months. As a result, 
NBPE increased its carrying value of the investment during the month. 
 
   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 Segment of the London Stock Exchange. NBPE has  2017 ZDP 
shares admitted to trading on the Specialist Fund Segment of the London 
Stock Exchange and the Daily Official List of The Channel Islands 
Securities Exchange Authority Limited and 2022 ZDP Shares  admitted to 
trading on the Specialist Fund Segment of the Main Market of the London 
Stock Exchange. NBPE holds a diversified portfolio of direct equity 
investments, direct income 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 has been 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 December 31, 
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 2016, the Manager's 
analysis and historical experience lead the Manager to believe that this 
approximates fair value at 31 December 2016. 
 
   NBPE December Monthly NAV: http://hugin.info/137843/R/2072175/778730.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

January 19, 2017 02:00 ET (07:00 GMT)

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