NB Private Equity Partners Limited Nb Private Equity Partners Announces Monthly Nav Update For December 2017
22 Gennaio 2018 - 8:00AM
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
NB Private Equity Partners Announces Monthly NAV Update for December
2017
22 January 2018
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 2017.
Key Highlights
-- Monthly and annual NAV development:
31 Dec-17
(Returns based on USD) Month YTD
Total return NAV development
per Share([1] #_ftn1) (0.3%) 9.1%
NAV development per Share (0.3%) 5.7%
-- 31 December 2017 NAV per Share of $16.82 (GBP12.45) decreased $0.04
(-GBP0.02) from $16.86 (GBP12.47) NAV per Share at 30 November 2017
-- NBPE's NAV decrease of $2.2 million during the month included:
-- $1.9 million of unrealised losses attributable to the receipt of new
valuation information, or $0.04 per share
-- $1.6 million of other unrealised gains, or $0.03 per share, attributable
to public securities, mark-to-market gains and realised adjustments
-- $1.5 million of accrued cash and payment in kind ("PIK") interest from
the income investment portfolio, or $0.03 per share
-- ($3.4) 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 2017 was
based on the following information([2] #_ftn2) :
-- 10% of the private equity fair value was valued as of 31 December 2017
-- 1% in private direct investments
-- 7% in public securities
-- 2% in credit-related fund investments
-- 4% of the private equity fair value was valued as of 30 November 2017
-- 4% in private direct investments
-- 10% of the private equity fair value was valued as of 31 October 2017
-- 10% in private direct investments
-- 76% of the private equity fair value was valued as of 30 September 2017
-- 68% in private direct investments
-- 8% in fund investments
Portfolio Commentary
During December, NBPE completed one new direct equity investment in
BackOffice, a data management solutions provider. NBPE also made
additional contributions to the previously announced investments in
QPark and an undisclosed business services company.
In terms of distributions, NBPE received $8.6 million from direct equity
investments, of which $5.4 million consisted of partial realisations
from the sale of public shares of Black Knight Financial Services (NYSE:
BKI), Gardner Denver (NYSE: GDI) and Univar (NYSE: UNVR). The remaining
direct equity investment distributions consisted primarily of partial
realisations from Vertiv and an undisclosed financial services company.
Income investments distributed $3.5 million to NBPE, consisting of
interest and principal proceeds. NBPE also received $12.0 million from
fund investments during the month, of which $4.6 million was received as
a result of the final liquidation of NB Crossroads Fund XVII.
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 the Premium Segment of the Main
Market of the London Stock Exchange and Euronext Amsterdam. NBPE has
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 a range of
strategies-including equity, fixed income, quantitative and multi-asset
class, private equity and hedge funds-on behalf of institutions,
advisors and individual investors globally. With offices in 20 countries,
Neuberger Berman's team is approximately 1,900 professionals. For five
consecutive years, the company has been named to Pensions & Investments
Best Places to Work in Money Management survey (among those with 1,000
employees or more). Tenured, stable and long-term in focus, the firm
fosters an investment culture of fundamental research and independent
thinking. It manages $295 billion in client assets as of December 31,
2017. 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 November 2017, 31 October 2017
and 30 September 2017, the Manager's analysis and historical experience
lead the Manager to believe that this approximates fair value at 31
December 2017.
NBPE Monthly NAV December 2017:
http://hugin.info/137843/R/2162685/831904.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 22, 2018 02:00 ET (07:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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