NB Private Equity Partners Limited Nb Private Equity: Monthly Nav Update For February 2019
19 Marzo 2019 - 8:00AM
UK Regulatory
TIDMNBPE
NB Private Equity Partners Announces Monthly NAV Update for February
2019
19 March 2019
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 2019.
Key Highlights
-- Monthly, year to date and LTM NAV development:
28 Feb-19 28 Feb-19
(Returns in $USD) Month YTD LTM
------ ---------
Total return NAV development
per Share[1] (0.3%) 0.6% 5.3%
NAV development per
Share (0.3%) (1.0%) 2.0%
-- 28 February 2019 NAV per Share of $17.48 (GBP13.14) decreased $0.06
(GBP0.19) from $17.54 (GBP13.33) NAV per Share at 31 January 2019
-- NBPE's NAV decrease of $3.0 million during the month of February
included:
-- $3.6 million of unrealised losses attributable to the receipt of
new valuation information, or $0.07 per share
-- $2.9 million decrease in NAV attributable to value changes to
other assets and liabilities during the month
-- $2.5 million of other unrealised gains, or $0.05 per share,
attributable to gains from public securities, realisation
adjustments and mark-to-market adjustments
-- $1.0 million of accrued cash and PIK interest from the income
portfolio, or $0.02 per share
Portfolio Valuation
The value of NBPE's private equity portfolio as of 28 February 2019 was
based on the following information[2]:
-- 16% of the private equity fair value was valued as of 28 February 2019
--
--
-- 9% in private direct investment
-- 7% in public securities
-- 2% of the private equity fair value was valued as of 31 January 2019
--
-- 2% in fund investments
-- 25% of the private equity fair value was valued as of 31 December 2018
--
-- 25% in private direct investments
-- 57% of the private equity fair value was valued as of 30 September 2018
--
-- 54% in private direct investments
-- 3% in fund investments
The Investment Manager is continuing to receive year end valuation
information and notably approximately 73% of the private investments in
the direct equity portfolio remain valued based on information as of 30
September 2018. Additional 31 December 2018 valuation information is
expected over the coming weeks.
Portfolio Commentary
During February, NBPE funded one follow-on investment to Compliance
Solutions Strategies, a provider of compliance solutions to the
financial sector. In terms of distributions, NBPE received $0.7 million
from income investments, consisting of interest receipts and principal
repayments.
On 28 February 2019, NBPE paid the first 2019 semi-annual dividend of
$0.28 per share, which represents an annualised yield of 3.8% on the
share price and 3.2% on NAV. NBPE repurchased 10,000 Class A shares
during the month of February at a discount of 19.9%. The shares bought
back will be canceled.
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Kaso Legg Communications +44 (0)20 3603 2803
Charles Gorman nbpe@kl-communications.com
https://www.globenewswire.com/Tracker?data=SMX1CQn8yq750dYVVy7B2Y1bFYjRYWtR3z7K2eorCJCzaLdoO1humwbAKptoAik_x8OFiXgrV9pf5DcsDf82rbmBMc0Nfd1-H-ew9nkjHzZSz69JnTgi4E5ir2XK8P5D
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. 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 22 countries,
Neuberger Berman's team is more than 2,000 professionals. For five
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 $304 billion
in client assets as of December 31, 2018. 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. 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] Pease refer to the valuation methodology section of the monthly
report for a description of the Manager's valuation methodology. While
some valuation data is as of 31 January 2019, 31 December 2018 and 30
September 2018, the Manager's analysis and historical experience lead
the Manager to believe that this approximates fair value at 28 February
2019.
Attachment
-- NBPE February Monthly 2019
https://ml-eu.globenewswire.com/Resource/Download/d1ff1be6-a29e-48dc-8e75-4a2eb26e1203
(END) Dow Jones Newswires
March 19, 2019 03:00 ET (07:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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