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 
 
   NB Private Equity Partners Announces Monthly NAV Update for February 
2018 
 
   13 April 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 28 February 2018. 
 
   Key Highlights 
 
 
   -- Monthly and annual NAV development: 
 
 
 
 
 
                                       28 Feb-18  28 Feb-18 
  (Returns based on USD)       Month      YTD        LTM 
Total return NAV development 
 per Share([1] #_ftn1)         (0.9%)     (0.3%)      12.8% 
NAV development per Share      (0.9%)     (1.8%)       9.5% 
 
 
 
   -- Following the issuance of the 31 December 2017 audited financials, the 31 
      January 2018 monthly NAV estimate was re-stated from the originally 
      issued $16.63 per Share to $17.29 per Share, due to the incorporation of 
      additional valuation information received during the year end process 
 
 
   -- 28 February 2018 NAV per Share of $17.14 (GBP12.46) decreased $0.15 
      (GBP0.28) from $17.29 (GBP12.18) re-stated NAV per Share at 31 January 
      2018. The 28 February 2018 monthly NAV estimate incorporates the same 
      private valuations as the 31 January 2018 restated NAV; therefore 
      differences during the month of February are attributable to public stock 
      price changes, FX changes, accrued cash and PIK interest and expenses 
 
 
   -- NBPE's NAV decrease of $7.2 million during the month of February 
      included: 
 
 
   -- $7.0 million of other unrealised losses, or $0.14 per share, attributable 
      to public securities, mark-to-market gains and realised adjustments 
 
   -- $1.3 million of accrued cash and PIK interest from the income investment 
      portfolio, or $0.03 per share 
 
   -- $1.5 million decrease in NAV attributable to value changes to other 
      assets and liabilities during the month 
 
 
   -- NBPE's NAV decrease of $15.1 million during 2018 year to date included: 
 
          -- $12.2 million decrease, or $0.25 per share, from the February 2018 
             dividend payment 
 
          -- $0.8 million of unrealised gains attributable to the receipt of 
             new valuation information, or $0.02 per share 
 
          -- $3.2 million of other unrealised losses, or $0.07 per share, 
             attributable to public securities, mark-to-market gains and 
             realised adjustments 
 
          -- $2.7 million of accrued cash and PIK interest from the income 
             investment portfolio, or $0.06 per share 
 
          -- $3.2 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 28 February 2018 was 
based on the following information([2] #_ftn2) : 
 
 
   -- 27% of the private equity fair value was valued as of 28 February 2018 
 
          -- 17% in private direct investments 
 
          -- 8% in public securities 
 
          -- 2% in credit-related fund investments 
 
   -- 73% of the private equity fair value was valued as of 31 December 2017 
 
          -- 66% in private direct investments 
 
          -- 7% in fund investments 
 
 
   Portfolio Commentary 
 
   During February, NBPE completed two new direct equity investments in an 
undisclosed healthcare services company and in Avantor, a global 
provider of materials for life sciences and technology industries. NBPE 
also completed an additional direct equity investment in Excelitas, an 
industrial technology company. 
 
   In terms of distributions, NBPE received $1.4 million from direct equity 
investments, consisting of proceeds received as a result of the partial 
secondary sale of shares of Black Knight Financial Services (NYSE: BKI) 
and partial proceeds received in connection with the IPO of ARUHI (TYO: 
7198) in December 2017. NBPE also received $2.5 million from income 
investments, consisting of principal and interest proceeds. Fund 
investments distributed $1.3 million to NBPE 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 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 31 December 2017, the Manager's 
analysis and historical experience lead the Manager to believe that this 
approximates fair value at 28 February 2018. 
 
   Monthly Report - February 2018: 
http://hugin.info/137843/R/2183927/843619.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

April 13, 2018 02:00 ET (06:00 GMT)

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