NB Private Equity Partners Limited : Publishes 31 March 2018 Quarterly Report
18 Giugno 2018 - 8:00AM
NB Private Equity Partners
Publishes 31 March 2018 Quarterly Report
18 June 2018
NB Private Equity Partners Limited
("NBPE" or the "Company"), a closed-end private equity investment
company, today releases its 31 March 2018 Quarterly Report. Key
highlights and commentary are below and the complete Quarterly
Report can be found on the Company's website at
www.nbprivateequitypartners.com.
Key
Highlights
- 31 March 2018 Net Asset Value
("NAV") per Share of $17.14 (£12.23) decreased $0.31 (-£0.68) from
$17.45 (£12.91) NAV per Share at 31 December 2017
-
NAV per Share total return of (0.3%)
-
NAV per Share decrease was driven by unrealised
losses, dividends paid and expenses
- NBPE's NAV decrease of $14.9
million during 2018 included:
-
$12.2 million of dividends paid, or ($0.25) per
Share
-
$29.9 million of realised gains, or $0.61 per
Share, net of tax expense
-
$30.4 million of unrealised losses, or ($0.62)
per Share, net of tax expense
-
$5.1 million of yield income and dividends, or
$0.10 per Share
-
$1.9 million of interest and other financing
costs, or ($0.04) per Share
-
$4.4 million of management fees, operating
expenses, and other expenses, or ($0.09) per Share
-
$1.0 million of losses on foreign exchange
related to ZDPs and investments, or ($0.02) per Share
- NAV development during 2018 has
been as follows:
|
Month |
31 March |
31 March |
|
|
2018 YTD |
2018 LTM |
|
|
|
|
Total
return NAV development per Share[1] |
0.0% |
(0.3%) |
10.9% |
NAV
development per Share |
0.0% |
(1.8%) |
7.7% |
|
|
|
|
|
|
Portfolio
Commentary
- Strong cash
flow: $57.0 million of realisations received during the first
three months of 2018
- 2018
Realisations: $28.0 million of proceeds received as a result of
full sales of ProMach and an undisclosed financial services
company, which in aggregate generated a 2.0x multiple (inclusive of
prior distributions)
- New
investments: 2 new equity investments completed in 2018
totalling $10.0 million
- Direct
investment focus: 89% of fair value invested in direct equity
and income investments at 31 March 2018
Portfolio
Valuation
The value of NBPE's private equity
portfolio as at 31 March 2018 was based on the following
information[2]:
- 100% of the private equity fair
value was valued as of 31 March 2018
Outlook
NBPE continues to benefit from the
full resources of the Manager's integrated private equity platform
for superior deal flow, due diligence and execution capabilities.
The Manager believes that while many segments of the market remain
competitive, there are a number of near-term opportunities that may
be attractive investments for the portfolio and that the current
investment pipeline remains strong.
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 and 2024 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.
LEI number:
213800UJH93NH8IOFQ77
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 more than 1,900
professionals. For four consecutive years, the company has been
named first or second in 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 $299 billion in client assets as of March 31,
2018. For more information, please visit our website at
www.nb.com.
This statement is
made pursuant to article 5:25e of the Dutch Financial Supervision
Act (Wet op het financieel toezicht) which requirement stems from
the EU Transparency Directive. Pursuant to
article 5:25e and article 5:25m of the Dutch Financial Supervision
Act this Interim Management Statement has been made generally
available by means of a press release and by publication on NBPE's
website (www.nbprivateequitypartners.com) and
has been filed with the Netherlands Authority for the Financial
Markets (Autoriteit Financiële Markten).
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
Quarterly Report for a description of the Manager's valuation
policy.
Quarterly Report
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
Grafico Azioni Nb Private Equity Partners (LSE:NBPE)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Nb Private Equity Partners (LSE:NBPE)
Storico
Da Lug 2023 a Lug 2024