NBPE Nb Private Equity Partners Limited

 
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)

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