NB Private Equity Partners Limited Nb Private Equity Partners Announces Monthly Nav Update For May 2018
26 Giugno 2018 - 8:00AM
UK Regulatory
TIDMNBPE
26 June 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 May 2018.
Key Highlights
-- Monthly and annual NAV development:
31 May-18 31 May-18
(Returns in $USD) Month YTD LTM
Total return NAV development
per Share([1] #_ftn1) 1.0% 1.3% 11.9%
NAV development per Share 1.0% (0.2%) 8.6%
-- 31 May 2018 NAV per Share of $17.42 (GBP13.10) increased $0.18 (GBP0.58)
from $17.24 (GBP12.52) NAV per Share at 30 April 2018
-- NBPE's NAV increase of $9.1 million during the month of May included:
-- $3.5 million of unrealised gains attributable to the receipt of
new valuation information, or $0.07 per share
-- $4.9 million of other unrealised gains, or $0.10 per share,
attributable to gains from public securities and realisations
adjustments, which were slightly offset by mark-to-market losses
-- $1.4 million of accrued cash and PIK interest from the income
investment portfolio, or $0.03 per share
-- $0.7 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 May 2018 was based
on the following information([2] #_ftn2) :
-- 26% of the private equity fair value was valued as of 31 May 2018
-- 16% in private direct investments
-- 8% in public securities
-- 2% in credit-related fund investments
-- 74% of the private equity fair value was valued as of 31 March 2018
-- 68% in private direct investments
-- 6% in fund investments
Portfolio Commentary
During May, NBPE funded $9.6 million to two new equity investments, in
CH Guenther, a supplier of baking mixes and food products, and SafeFleet,
a provider of safety products for fleet operators.
In terms of distributions, NBPE received $8.3 million from direct equity
investments, consisting primarily of proceeds from a partial realisation
of Staples, the partial sale of public stock in Gardner Denver (NYSE:
GDI), and the final sale of the remaining public shares in Black Knight
Financial Services (NYSE: BKI). Income investments distributed $1.4
million, consisting of principal and interest payments. Fund investments
distributed $3.9 million during May, of which $3.0 million was received
from Bertram Growth Capital II.
Also during May, NBPE completed the successful issuance of its 2024 ZDPs,
at a GRY of 4.25% and at the maximum offering size of GBP50 million.
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.
([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 March 2018, the Manager's
analysis and historical experience lead the Manager to believe that this
approximates fair value at 31 May 2018.
Monthly NAV May 2018: http://hugin.info/137843/R/2201122/853662.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
June 26, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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